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) – Equities researchers at Zacks Research cut their Q3 2024 earnings per share estimates for Bio-Rad Laboratories in a report issued on Monday, August 26th. Zacks Research analyst R. Department now anticipates that the medical research company will post earnings of $2.14 per share for the quarter, down from their prior estimate 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.

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

BIO has been the topic of a number of other reports. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $401.00 target price on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. UBS Group decreased their target price on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Wells Fargo & Company started coverage on Bio-Rad Laboratories in a research report on Tuesday. They issued an “equal weight” rating and a $340.00 price objective on the stock. Finally, Jefferies Financial Group restated a “hold” rating and issued a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Bio-Rad Laboratories has an average rating of “Hold” and an average price target of $358.20.

Bio-Rad Laboratories Trading Up 2.0 %

Shares of BIO stock opened at $319.67 on Wednesday. The business’s fifty day moving average price is $305.14 and its 200 day moving average price is $307.76. Bio-Rad Laboratories has a 1-year low of $261.59 and a 1-year high of $406.44. The firm has a market capitalization of $9.12 billion, a PE ratio of -30.86 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.57 and a quick ratio of 4.89.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Bio-Rad Laboratories during the second quarter worth about $59,000. William B. Walkup & Associates Inc. purchased a new position in Bio-Rad Laboratories during the second quarter worth about $519,000. Scientech Research LLC purchased a new position in Bio-Rad Laboratories during the second quarter worth about $1,186,000. Select Equity Group L.P. lifted its position in Bio-Rad Laboratories by 26.2% during the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after buying an additional 134,856 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Bio-Rad Laboratories by 44.0% during the second quarter. Mackenzie Financial Corp now owns 1,054 shares of the medical research company’s stock worth $288,000 after buying an additional 322 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Michael Crowley sold 369 shares of the company’s 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 sale, the executive vice president now directly owns 6,573 shares in the company, valued at $1,852,994.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.06% of the company’s stock.

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.