Analysts Anticipate Bio-Rad Laboratories, Inc. (BIO) Will Announce Quarterly Sales of $618.89 Million

Equities research analysts predict that Bio-Rad Laboratories, Inc. (NYSE:BIO) will report sales of $618.89 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Bio-Rad Laboratories’ earnings, with the lowest sales estimate coming in at $613.68 million and the highest estimate coming in at $625.00 million. Bio-Rad Laboratories reported sales of $571.45 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.3%. The company is expected to issue its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Bio-Rad Laboratories will report full year sales of $618.89 million for the current year, with estimates ranging from $2.15 billion to $2.17 billion. For the next financial year, analysts forecast that the firm will report 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 a mean average based on a survey of research analysts that cover Bio-Rad Laboratories.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.37. The business had revenue of $535.00 million during the quarter, compared to analysts’ expectations of $507.99 million. Bio-Rad Laboratories had a net margin of 1.15% and a return on equity of 3.44%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS.

BIO has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Bio-Rad Laboratories from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. TheStreet raised shares of Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $290.00 target price (up from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $277.75.

Bio-Rad Laboratories (NYSE BIO) traded down $3.37 during mid-day trading on Friday, reaching $255.38. 5,198 shares of the company’s stock traded hands, compared to its average volume of 158,744. The stock has a market cap of $7,694.63 and a PE ratio of 327.53. 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 12-month low of $186.98 and a 12-month high of $273.87.

Bio-Rad Laboratories announced that its board has approved a stock buyback program on Tuesday, November 28th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other Bio-Rad Laboratories news, CFO Christine A. Tsingos sold 4,980 shares of Bio-Rad Laboratories stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $249.40, for a total value of $1,242,012.00. Following the completion of the sale, the chief financial officer now directly owns 7,283 shares of the company’s stock, 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 Giovanni Magni sold 2,400 shares of Bio-Rad Laboratories stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $253.01, for a total transaction of $607,224.00. Following the completion of the sale, the executive vice president now directly owns 9,251 shares of the company’s stock, valued at $2,340,595.51. 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 over the last ninety days. 28.29% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Martin & Co. Inc. TN boosted its holdings in shares of Bio-Rad Laboratories by 0.6% in the 2nd quarter. Martin & Co. Inc. TN now owns 6,825 shares of the medical research company’s stock valued at $1,545,000 after purchasing an additional 40 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Bio-Rad Laboratories by 1.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,364 shares of the medical research company’s stock valued at $1,440,000 after purchasing an additional 78 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Bio-Rad Laboratories by 1.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,229 shares of the medical research company’s stock valued at $1,410,000 after purchasing an additional 100 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Bio-Rad Laboratories by 17.8% in the 2nd quarter. Advisor Group Inc. now owns 952 shares of the medical research company’s stock valued at $216,000 after purchasing an additional 144 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Bio-Rad Laboratories by 2.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,732 shares of the medical research company’s stock valued at $1,296,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 63.70% 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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