Brokerages Expect Bio-Rad Laboratories, Inc. (BIO) to Announce $1.76 EPS

Brokerages forecast that Bio-Rad Laboratories, Inc. (NYSE:BIO) will post $1.76 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Bio-Rad Laboratories’ earnings, with the highest EPS estimate coming in at $2.05 and the lowest estimate coming in at $1.48. Bio-Rad Laboratories reported earnings of $1.50 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 17.3%. The business is expected to report its next quarterly earnings report on Tuesday, February 26th.

On average, analysts expect that Bio-Rad Laboratories will report full year earnings of $5.47 per share for the current fiscal year, with EPS estimates ranging from $5.20 to $5.76. For the next year, analysts anticipate that the firm will post earnings of $6.79 per share, with EPS estimates ranging from $6.65 to $7.01. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Bio-Rad Laboratories.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, November 1st. The medical research company reported $0.91 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.25). Bio-Rad Laboratories had a net margin of 55.13% and a return on equity of 3.72%. The business had revenue of $545.10 million during the quarter, compared to analyst estimates of $541.23 million. During the same quarter in the prior year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year.

BIO has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Barclays initiated coverage on shares of Bio-Rad Laboratories in a research report on Wednesday, September 5th. They set an “equal weight” rating and a $345.00 target price on the stock. Morgan Stanley initiated coverage on shares of Bio-Rad Laboratories in a research report on Thursday, September 20th. They set an “equal weight” rating and a $335.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and set a $420.00 target price on shares of Bio-Rad Laboratories in a research report on Monday, September 24th. Finally, Goldman Sachs Group initiated coverage on shares of Bio-Rad Laboratories in a research report on Wednesday, October 17th. They set a “buy” rating and a $350.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Bio-Rad Laboratories presently has a consensus rating of “Hold” and an average target price of $338.43.

NYSE BIO traded down $6.75 during mid-day trading on Friday, reaching $256.23. 263,148 shares of the stock were exchanged, compared to its average volume of 191,080. Bio-Rad Laboratories has a 1-year low of $231.00 and a 1-year high of $345.15. The firm has a market cap of $7.88 billion, a P/E ratio of 62.50, a price-to-earnings-growth ratio of 3.20 and a beta of 1.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.16 and a current ratio of 4.49.

Large investors have recently bought and sold shares of the business. First Citizens Bank & Trust Co. purchased a new position in Bio-Rad Laboratories during the third quarter worth approximately $390,000. Oakbrook Investments LLC raised its stake in Bio-Rad Laboratories by 36.8% during the third quarter. Oakbrook Investments LLC now owns 2,600 shares of the medical research company’s stock worth $814,000 after purchasing an additional 700 shares during the period. Atria Investments LLC purchased a new position in Bio-Rad Laboratories during the third quarter worth approximately $337,000. Asymmetry Capital Management L.P. raised its stake in Bio-Rad Laboratories by 31.2% during the second quarter. Asymmetry Capital Management L.P. now owns 5,918 shares of the medical research company’s stock worth $1,708,000 after purchasing an additional 1,407 shares during the period. Finally, Bodenholm Capital AB purchased a new position in Bio-Rad Laboratories during the third quarter worth approximately $32,540,000. 62.37% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Company Profile

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 and Estimates for Bio-Rad Laboratories (NYSE:BIO)

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