Bio-Rad Laboratories (NYSE:BIO) Issues Quarterly Earnings Results

Bio-Rad Laboratories (NYSE:BIO) released its earnings results on Thursday. The medical research company reported $2.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.44 by ($0.12), Bloomberg Earnings reports. The business had revenue of $624.43 million for the quarter, compared to analysts’ expectations of $636.50 million. Bio-Rad Laboratories had a return on equity of 4.30% and a net margin of 16.14%. Bio-Rad Laboratories updated its FY 2020
After-Hours guidance to EPS.

Bio-Rad Laboratories stock traded up $23.70 during trading on Friday, reaching $403.04. 413,679 shares of the company were exchanged, compared to its average volume of 157,122. The stock’s 50 day simple moving average is $372.68 and its two-hundred day simple moving average is $351.31. The company has a market capitalization of $11.07 billion, a P/E ratio of 33.48, a PEG ratio of 2.77 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.72 and a quick ratio of 3.36. Bio-Rad Laboratories has a 52-week low of $260.37 and a 52-week high of $391.22.

Several equities analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Bio-Rad Laboratories in a research note on Monday, January 6th. They issued a “buy” rating and a $450.00 price target on the stock. Wells Fargo & Co increased their price objective on shares of Bio-Rad Laboratories from $430.00 to $440.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $400.83.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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Earnings History for Bio-Rad Laboratories (NYSE:BIO)

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