Zacks Research Weighs in on Bio-Rad Laboratories, Inc.’s Q1 2024 Earnings (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Stock analysts at Zacks Research lowered their Q1 2024 EPS estimates for shares of Bio-Rad Laboratories in a report issued on Monday, April 15th. Zacks Research analyst R. Anand now expects that the medical research company will post earnings of $2.06 per share for the quarter, down from their prior estimate of $2.09. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $10.41 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ Q2 2024 earnings at $2.17 EPS, Q4 2024 earnings at $3.39 EPS, Q2 2025 earnings at $1.95 EPS, Q4 2025 earnings at $3.30 EPS, FY2025 earnings at $11.47 EPS, Q1 2026 earnings at $2.84 EPS and FY2026 earnings at $12.27 EPS.

A number of other research firms have also commented on BIO. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Friday, April 5th. UBS Group upped their price target on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a report on Friday, February 16th. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price target for the company from $400.00 to $365.00 in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada reduced their price objective on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $468.00.

Bio-Rad Laboratories Trading Down 2.5 %

NYSE:BIO opened at $292.85 on Tuesday. The company has a fifty day moving average of $332.35 and a 200 day moving average of $321.22. Bio-Rad Laboratories has a 52 week low of $261.59 and a 52 week high of $489.36. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $8.35 billion, a P/E ratio of -13.63 and a beta of 0.87.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.17. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The firm had revenue of $681.18 million during the quarter, compared to analyst estimates of $685.00 million. During the same period in the previous year, the business posted $3.31 EPS. The business’s quarterly revenue was down 6.7% on a year-over-year basis.

Insider Buying and Selling at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the transaction, the executive vice president now directly owns 6,942 shares of the company’s stock, valued at approximately $2,332,512. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 17.50% of the company’s stock.

Institutional Trading of Bio-Rad Laboratories

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Bio-Rad Laboratories in the 4th quarter worth about $27,000. Farther Finance Advisors LLC boosted its holdings in shares of Bio-Rad Laboratories by 42.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 101 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 30 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Bio-Rad Laboratories during the 1st quarter valued at about $38,000. Gladius Capital Management LP boosted its holdings in shares of Bio-Rad Laboratories by 65.8% during the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at about $41,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.