Jefferies Group Analysts Lower Earnings Estimates for Bio-Rad Laboratories (BIO)

Bio-Rad Laboratories (NYSE:BIO) – Equities researchers at Jefferies Group decreased their Q1 2018 earnings per share (EPS) estimates for Bio-Rad Laboratories in a report released on Monday, April 16th. Jefferies Group analyst B. Couillard now anticipates that the medical research company will earn $0.68 per share for the quarter, down from their previous estimate of $0.74. Jefferies Group currently has a “Buy” rating and a $325.00 target price on the stock. Jefferies Group also issued estimates for Bio-Rad Laboratories’ Q4 2018 earnings at $2.32 EPS.

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

Several other analysts also recently issued reports on BIO. ValuEngine raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Wells Fargo lowered their target price 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. Citigroup lifted their target price on Bio-Rad Laboratories to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, CL King downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $297.20.

BIO opened at $264.19 on Tuesday. Bio-Rad Laboratories has a 1 year low of $205.83 and a 1 year high of $279.59. The stock has a market capitalization of $7,801.77, a price-to-earnings ratio of 64.44, a PEG ratio of 3.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.93.

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in shares of Bio-Rad Laboratories by 297.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 560 shares of the medical research company’s stock valued at $134,000 after acquiring an additional 419 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $248,000. Macquarie Group Ltd. acquired a new stake in shares of Bio-Rad Laboratories in the third quarter valued at about $255,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bio-Rad Laboratories by 42.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,165 shares of the medical research company’s stock valued at $278,000 after acquiring an additional 350 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Bio-Rad Laboratories by 218.6% in the fourth quarter. Advisory Services Network LLC now owns 1,217 shares of the medical research company’s stock valued at $290,000 after acquiring an additional 835 shares during the last quarter. 64.52% of the stock is currently owned by institutional investors and hedge funds.

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About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc manufactures and supplies products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components for life science research, healthcare, analytical chemistry, and other markets. The company operates through two segments, Life Science and Clinical Diagnostics.

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