Bio-Rad Laboratories, Inc. (BIO) Issues Earnings Results
Bio-Rad Laboratories, Inc. (NYSE:BIO) released its quarterly earnings results on Thursday. The medical research company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.37, Briefing.com reports. Bio-Rad Laboratories had a return on equity of 3.49% and a net margin of 1.15%. The business had revenue of $535.00 million for the quarter, compared to the consensus estimate of $507.99 million. During the same quarter last year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis.
Bio-Rad Laboratories (NYSE:BIO) traded up $43.56 on Friday, hitting $261.42. The stock had a trading volume of 746,391 shares, compared to its average volume of 153,273. The stock has a market cap of $6.43 billion, a PE ratio of 68.87 and a beta of 0.88.
In other news, EVP Michael Crowley sold 700 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $215.91, for a total value of $151,137.00. Following the transaction, the executive vice president now directly owns 2,060 shares in the company, valued at approximately $444,774.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 28.29% of the company’s stock.
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A number of equities research analysts have weighed in on BIO shares. Zacks Investment Research downgraded Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Deutsche Bank AG reiterated a “buy” rating and issued a $255.00 price objective on shares of Bio-Rad Laboratories in a report on Monday, September 18th. Wells Fargo & Company began coverage on Bio-Rad Laboratories in a report on Thursday, July 13th. They issued an “outperform” rating and a $250.00 price objective on the stock. TheStreet downgraded Bio-Rad Laboratories from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $275.00 price objective on shares of Bio-Rad Laboratories in a report on Friday, July 14th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $260.00.
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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