Analysts Expect Bio-Rad Laboratories (BIO) Will Post Earnings of $0.98 Per Share

Brokerages expect Bio-Rad Laboratories (NYSE:BIO) to post earnings per share of $0.98 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bio-Rad Laboratories’ earnings. The highest EPS estimate is $1.22 and the lowest is $0.74. Bio-Rad Laboratories posted earnings per share of $0.41 during the same quarter last year, which indicates a positive year-over-year growth rate of 139%. The company is scheduled to report its next earnings report on Thursday, May 3rd.

On average, analysts expect that Bio-Rad Laboratories will report full-year earnings of $5.75 per share for the current financial year, with EPS estimates ranging from $5.50 to $6.00. For the next fiscal year, analysts anticipate that the business will report earnings of $7.42 per share, with EPS estimates ranging from $7.35 to $7.48. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Bio-Rad Laboratories.

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Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Tuesday, February 27th. The medical research company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.22. The firm had revenue of $620.43 million for the quarter, compared to the consensus estimate of $618.89 million. Bio-Rad Laboratories had a return on equity of 3.63% and a net margin of 5.31%.

A number of brokerages have weighed in on BIO. Wells Fargo lowered their price target on Bio-Rad Laboratories from $290.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Jefferies Group boosted their price target on Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Citigroup boosted their price target on Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Zacks Investment Research raised Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 price target on the stock in a research report on Wednesday, December 13th. Finally, ValuEngine raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $297.20.

Several institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its position in shares of Bio-Rad Laboratories by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 35,249 shares of the medical research company’s stock valued at $8,413,000 after purchasing an additional 206 shares during the last quarter. Comerica Bank grew its position in shares of Bio-Rad Laboratories by 1.4% in the fourth quarter. Comerica Bank now owns 16,403 shares of the medical research company’s stock valued at $4,173,000 after purchasing an additional 221 shares during the last quarter. Amalgamated Bank grew its position in shares of Bio-Rad Laboratories by 6.0% in the fourth quarter. Amalgamated Bank now owns 4,227 shares of the medical research company’s stock valued at $1,009,000 after purchasing an additional 238 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Bio-Rad Laboratories by 1.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 16,673 shares of the medical research company’s stock valued at $3,979,000 after purchasing an additional 241 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Bio-Rad Laboratories by 2.9% in the fourth quarter. Raymond James & Associates now owns 8,569 shares of the medical research company’s stock valued at $2,045,000 after purchasing an additional 244 shares during the last quarter. 64.52% of the stock is currently owned by institutional investors.

NYSE BIO traded down $3.37 during trading on Friday, reaching $244.10. 127,070 shares of the company’s stock were exchanged, compared to its average volume of 128,085. The company has a market cap of $7,265.15, a PE ratio of 59.54, a price-to-earnings-growth ratio of 2.12 and a beta of 0.94. The company has a quick ratio of 2.75, a current ratio of 3.93 and a debt-to-equity ratio of 0.15. Bio-Rad Laboratories has a fifty-two week low of $199.94 and a fifty-two week high of $279.59.

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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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