Wall Street brokerages expect Bio-Rad Laboratories, Inc. (NYSE:BIO) to report earnings of $0.55 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bio-Rad Laboratories’ earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.57. Bio-Rad Laboratories posted earnings of $0.61 per share in the same quarter last year, which indicates a negative year over year growth rate of 9.8%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Bio-Rad Laboratories will report full year earnings of $2.87 per share for the current financial year, with EPS estimates ranging from $2.85 to $2.89. For the next financial year, analysts forecast that the firm will report earnings of $4.28 per share, with EPS estimates ranging from $3.81 to $4.75. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Bio-Rad Laboratories.
Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, May 4th. The medical research company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.14. The company had revenue of $500.05 million during the quarter, compared to analysts’ expectations of $477.76 million. Bio-Rad Laboratories had a return on equity of 1.88% and a net margin of 2.48%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS.
BIO has been the subject of several recent research reports. Zacks Investment Research raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and set a $244.00 price target for the company in a research report on Monday, May 1st. BidaskClub raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC raised their price target on Bio-Rad Laboratories from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, March 14th. Finally, Deutsche Bank AG raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating and dropped their price target for the stock from $220.00 to $195.00 in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $217.25.
A number of institutional investors have recently added to or reduced their stakes in BIO. BlackRock Inc. increased its position in Bio-Rad Laboratories by 9,953.4% in the first quarter. BlackRock Inc. now owns 1,733,111 shares of the medical research company’s stock valued at $345,478,000 after buying an additional 1,715,872 shares during the last quarter. Vanguard Group Inc. increased its position in Bio-Rad Laboratories by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,673,274 shares of the medical research company’s stock valued at $333,550,000 after buying an additional 58,774 shares during the last quarter. TimesSquare Capital Management LLC increased its position in Bio-Rad Laboratories by 17.2% in the first quarter. TimesSquare Capital Management LLC now owns 611,700 shares of the medical research company’s stock valued at $121,936,000 after buying an additional 89,800 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Bio-Rad Laboratories by 9.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 466,785 shares of the medical research company’s stock valued at $85,085,000 after buying an additional 38,714 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Bio-Rad Laboratories by 1.7% in the first quarter. Alliancebernstein L.P. now owns 335,197 shares of the medical research company’s stock valued at $66,818,000 after buying an additional 5,647 shares during the last quarter. 63.85% of the stock is owned by institutional investors.
Shares of Bio-Rad Laboratories (NYSE BIO) traded down 1.49% during mid-day trading on Monday, reaching $225.59. The company’s stock had a trading volume of 148,886 shares. The firm has a market capitalization of $6.68 billion, a P/E ratio of 239.48 and a beta of 0.91. Bio-Rad Laboratories has a 1-year low of $142.06 and a 1-year high of $233.51. The company’s 50-day moving average is $222.92 and its 200 day moving average is $202.79.
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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