Bio-Rad Laboratories, Inc. (BIO) Expected to Post Quarterly Sales of $617.23 Million

Analysts expect Bio-Rad Laboratories, Inc. (NYSE:BIO) to post sales of $617.23 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Bio-Rad Laboratories’ earnings, with estimates ranging from $613.68 million to $620.00 million. Bio-Rad Laboratories reported sales of $571.45 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8%. The company is scheduled to report its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Bio-Rad Laboratories will report full-year sales of $617.23 million for the current year, with estimates ranging from $2.15 billion to $2.16 billion. For the next year, analysts expect that the business will post sales of $2.26 billion per share, with estimates ranging from $2.24 billion to $2.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Bio-Rad Laboratories.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.37. The business had revenue of $535.00 million during the quarter, compared to analyst estimates of $507.99 million. Bio-Rad Laboratories had a return on equity of 3.44% and a net margin of 1.15%. Bio-Rad Laboratories’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS.

BIO has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Wells Fargo & Co restated an “outperform” rating and issued a $290.00 price objective (up previously from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Finally, Deutsche Bank restated a “buy” rating and issued a $255.00 price objective on shares of Bio-Rad Laboratories in a research note on Monday, September 18th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Bio-Rad Laboratories has an average rating of “Buy” and an average price target of $277.75.

Bio-Rad Laboratories (NYSE:BIO) traded up $0.74 during midday trading on Tuesday, reaching $249.11. The company had a trading volume of 106,089 shares, compared to its average volume of 171,580. The stock has a market cap of $7,392.24, a price-to-earnings ratio of 315.33, a P/E/G ratio of 2.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.06 and a quick ratio of 2.77. Bio-Rad Laboratories has a twelve month low of $183.43 and a twelve month high of $273.87.

Bio-Rad Laboratories declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 28th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, CFO Christine A. Tsingos sold 4,980 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $249.40, for a total transaction of $1,242,012.00. Following the completion of the transaction, the chief financial officer now owns 7,283 shares in the company, valued at approximately $1,816,380.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Crowley sold 1,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $258.39, for a total value of $258,390.00. Following the transaction, the executive vice president now owns 2,492 shares of the company’s stock, valued at approximately $643,907.88. The disclosure for this sale can be found here. Insiders sold a total of 9,126 shares of company stock valued at $2,309,426 in the last 90 days. Corporate insiders own 28.29% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Pacad Investment Ltd. bought a new position in shares of Bio-Rad Laboratories during the 2nd quarter worth $113,000. First Manhattan Co. grew its stake 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 worth $133,000 after acquiring an additional 250 shares during the period. Meeder Asset Management Inc. grew its stake 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 worth $137,000 after acquiring an additional 600 shares during the period. Advisor Group Inc. grew its stake in shares of Bio-Rad Laboratories by 17.8% during the 2nd quarter. Advisor Group Inc. now owns 952 shares of the medical research company’s stock worth $216,000 after acquiring an additional 144 shares during the period. Finally, Timber Hill LLC bought a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth $214,000. Institutional investors own 63.88% of the company’s stock.

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About Bio-Rad Laboratories

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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