Bio-Rad Laboratories, Inc. (BIO) Expected to Post Earnings of $1.76 Per Share
Analysts expect Bio-Rad Laboratories, Inc. (NYSE:BIO) to post $1.76 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Bio-Rad Laboratories’ earnings, with the highest EPS estimate coming in at $1.87 and the lowest estimate coming in at $1.66. Bio-Rad Laboratories posted earnings of $1.25 per share during the same quarter last year, which suggests a positive year over year growth rate of 40.8%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Bio-Rad Laboratories will report full year earnings of $2.68 per share for the current year. For the next fiscal year, analysts expect that the business will post earnings of $4.32 per share, with EPS estimates ranging from $3.76 to $4.75. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Bio-Rad Laboratories.
Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.37. The business had revenue of $535.00 million during the quarter, compared to the consensus estimate of $507.99 million. Bio-Rad Laboratories had a return on equity of 3.49% and a net margin of 1.15%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Deutsche Bank AG reaffirmed a “buy” rating and set a $255.00 price objective on shares of Bio-Rad Laboratories in a report on Monday, September 18th. TheStreet lowered shares of Bio-Rad Laboratories from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $275.00 price objective on shares of Bio-Rad Laboratories in a report on Friday, July 14th. Finally, Wells Fargo & Company assumed coverage on shares of Bio-Rad Laboratories in a report on Thursday, July 13th. They set an “outperform” rating and a $250.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $260.00.
In other Bio-Rad Laboratories news, EVP Michael Crowley sold 700 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $215.91, for a total transaction of $151,137.00. Following the completion of the sale, the executive vice president now directly owns 2,060 shares of the company’s stock, valued at approximately $444,774.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 28.29% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BIO. Canada Pension Plan Investment Board bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at approximately $113,000. Pacad Investment Ltd. bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at approximately $113,000. First Manhattan Co. boosted its position in shares of Bio-Rad Laboratories by 71.6% during the 3rd quarter. First Manhattan Co. now owns 599 shares of the medical research company’s stock valued at $133,000 after acquiring an additional 250 shares during the last quarter. Turner Investments LLC bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter valued at approximately $136,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Bio-Rad Laboratories by 3,333.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 618 shares of the medical research company’s stock valued at $137,000 after acquiring an additional 600 shares during the last quarter. 62.59% of the stock is owned by institutional investors and hedge funds.
Shares of Bio-Rad Laboratories (BIO) traded up $43.56 during midday trading on Friday, reaching $261.42. The company’s stock had a trading volume of 746,391 shares, compared to its average volume of 153,273. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.01 and a quick ratio of 2.74. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 68.87, a P/E/G ratio of 3.29 and a beta of 0.88.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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