Bio-Rad Laboratories, Inc. to Post Q3 2024 Earnings of $2.14 Per Share, Zacks Research Forecasts (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Zacks Research reduced their Q3 2024 earnings estimates for Bio-Rad Laboratories in a research note issued on Monday, August 26th. Zacks Research analyst R. Department now expects that the medical research company will earn $2.14 per share for the quarter, down from their previous forecast of $2.16. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $10.80 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ FY2024 earnings at $10.32 EPS, FY2025 earnings at $11.49 EPS and Q1 2026 earnings at $3.02 EPS.

Several other research analysts also recently issued reports on the company. UBS Group lowered their price objective on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Wells Fargo & Company initiated coverage on Bio-Rad Laboratories in a research note on Tuesday. They issued an “equal weight” rating and a $340.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $401.00 price objective on shares of Bio-Rad Laboratories in a research note on Friday, August 16th. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup increased their target price on shares of Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $358.20.

Bio-Rad Laboratories Stock Up 2.0 %

BIO stock opened at $319.67 on Wednesday. The stock has a market capitalization of $9.12 billion, a P/E ratio of -30.86 and a beta of 0.93. The company has a current ratio of 6.57, a quick ratio of 4.89 and a debt-to-equity ratio of 0.13. Bio-Rad Laboratories has a 12 month low of $261.59 and a 12 month high of $406.44. The firm has a 50-day moving average price of $305.14 and a 200-day moving average price of $307.76.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to analysts’ expectations of $645.79 million. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.56%. Bio-Rad Laboratories’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.00 earnings per share.

Hedge Funds Weigh In On Bio-Rad Laboratories

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Bio-Rad Laboratories by 48.7% in the 4th quarter. Victory Capital Management Inc. now owns 17,671 shares of the medical research company’s stock worth $5,706,000 after purchasing an additional 5,790 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Bio-Rad Laboratories by 38.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 151,691 shares of the medical research company’s stock valued at $48,980,000 after acquiring an additional 41,937 shares in the last quarter. Swedbank AB bought a new position in Bio-Rad Laboratories during the 1st quarter valued at $1,824,000. Campbell & CO Investment Adviser LLC bought a new position in Bio-Rad Laboratories during the 4th quarter valued at $2,609,000. Finally, DAVENPORT & Co LLC bought a new position in Bio-Rad Laboratories during the 1st quarter valued at $15,340,000. 65.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Crowley sold 369 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the transaction, the executive vice president now directly owns 6,573 shares in the company, valued at approximately $1,852,994.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Company Profile

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.