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.
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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.
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