Zacks: Brokerages Expect Bio-Rad Laboratories, Inc. (BIO) to Post $1.28 EPS

Wall Street analysts expect Bio-Rad Laboratories, Inc. (NYSE:BIO) to report earnings per share of $1.28 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Bio-Rad Laboratories’ earnings. The highest EPS estimate is $1.33 and the lowest is $1.19. Bio-Rad Laboratories posted earnings of $1.25 per share in the same quarter last year, which would suggest a positive year over year growth rate of 2.4%. The business is scheduled to announce its next earnings report after the market closes on Tuesday, February 27th.

According to Zacks, analysts expect that Bio-Rad Laboratories will report full year earnings of $2.69 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of $5.09 per share, with EPS estimates ranging from $4.75 to $5.76. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Bio-Rad Laboratories.

Several research firms have recently commented on BIO. Zacks Investment Research upgraded Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 price objective for the company in a research note on Wednesday, December 13th. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Wells Fargo & Co restated an “outperform” rating and issued a $290.00 price objective (up from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. Finally, CL King lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a research note on Friday, February 16th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $277.75.

Bio-Rad Laboratories (NYSE:BIO) traded up $0.70 during trading hours on Friday, hitting $251.82. The stock had a trading volume of 100,979 shares, compared to its average volume of 165,695. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.06 and a quick ratio of 2.77. The stock has a market cap of $7,412.18, a price-to-earnings ratio of 79.06, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. Bio-Rad Laboratories has a 52-week low of $186.98 and a 52-week high of $273.87.

Bio-Rad Laboratories declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 28th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

In related news, CFO Christine A. Tsingos sold 4,980 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $249.40, for a total value of $1,242,012.00. Following the completion of the transaction, the chief financial officer now owns 7,283 shares of the company’s stock, valued at approximately $1,816,380.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Crowley sold 1,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $258.39, for a total transaction of $258,390.00. Following the completion of the transaction, the executive vice president now directly owns 2,492 shares of the company’s stock, valued at approximately $643,907.88. The disclosure for this sale can be found here. Insiders sold a total of 6,726 shares of company stock valued at $1,702,202 in the last ninety days. 28.29% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of BIO. HighTower Advisors LLC bought a new position in Bio-Rad Laboratories in the 2nd quarter worth $384,000. AHL Partners LLP boosted its holdings in Bio-Rad Laboratories by 59.1% in the 2nd quarter. AHL Partners LLP now owns 3,070 shares of the medical research company’s stock worth $695,000 after buying an additional 1,141 shares during the period. Royal Bank of Canada boosted its holdings in Bio-Rad Laboratories by 101.2% in the 2nd quarter. Royal Bank of Canada now owns 3,324 shares of the medical research company’s stock worth $752,000 after buying an additional 281,264 shares during the period. Janus Henderson Group PLC bought a new position in Bio-Rad Laboratories in the 2nd quarter worth $7,584,000. Finally, State Street Corp boosted its holdings in Bio-Rad Laboratories by 1.7% in the 2nd quarter. State Street Corp now owns 545,232 shares of the medical research company’s stock worth $123,396,000 after buying an additional 8,865 shares during the period. 64.05% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: This story was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/21/zacks-brokerages-expect-bio-rad-laboratories-inc-bio-to-post-1-28-eps.html.

About Bio-Rad Laboratories

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.

Get a free copy of the Zacks research report on Bio-Rad Laboratories (BIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply