Analysts expect Bio-Rad Laboratories, Inc. (NYSE:BIO) to post $610.65 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Bio-Rad Laboratories’ earnings. The highest sales estimate is $622.30 million and the lowest is $599.00 million. Bio-Rad Laboratories reported sales of $620.43 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.6%. The firm is expected to issue its next earnings results on Tuesday, February 26th.
On average, analysts expect that Bio-Rad Laboratories will report full year sales of $2.88 billion for the current financial year, with estimates ranging from $2.27 billion to $4.06 billion. For the next financial year, analysts forecast that the company will report sales of $2.50 billion, with estimates ranging from $2.33 billion to $2.82 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Bio-Rad Laboratories.
Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, November 1st. The medical research company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.25). Bio-Rad Laboratories had a return on equity of 3.72% and a net margin of 55.13%. The business had revenue of $545.10 million for the quarter, compared to the consensus estimate of $541.23 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis.
BIO has been the subject of several recent research reports. Jefferies Financial Group lifted their price objective on Bio-Rad Laboratories from $325.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Barclays initiated coverage on Bio-Rad Laboratories in a report on Wednesday, September 5th. They issued an “equal weight” rating and a $345.00 price objective for the company. Morgan Stanley initiated coverage on Bio-Rad Laboratories in a report on Thursday, September 20th. They issued an “equal weight” rating and a $335.00 price objective for the company. Finally, Goldman Sachs Group initiated coverage on Bio-Rad Laboratories in a report on Wednesday, October 17th. They issued a “buy” rating and a $350.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Bio-Rad Laboratories presently has a consensus rating of “Hold” and a consensus price target of $338.43.
BIO traded down $3.33 during trading hours on Monday, hitting $263.07. The stock had a trading volume of 7,766 shares, compared to its average volume of 195,999. Bio-Rad Laboratories has a 1 year low of $231.00 and a 1 year high of $345.15. The firm has a market cap of $7.98 billion, a P/E ratio of 64.12, a price-to-earnings-growth ratio of 3.24 and a beta of 1.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.16 and a current ratio of 4.49.
A number of institutional investors and hedge funds have recently made changes to their positions in BIO. Security National Trust Co. purchased a new position in Bio-Rad Laboratories during the 3rd quarter valued at about $125,000. Boussard & Gavaudan Investment Management LLP purchased a new position in Bio-Rad Laboratories during the 3rd quarter valued at about $202,000. First Republic Investment Management Inc. purchased a new position in Bio-Rad Laboratories during the 3rd quarter valued at about $208,000. Regentatlantic Capital LLC purchased a new position in Bio-Rad Laboratories during the 3rd quarter valued at about $222,000. Finally, We Are One Seven LLC purchased a new position in Bio-Rad Laboratories during the 3rd quarter valued at about $254,000. 62.37% of the stock is owned by institutional investors.
Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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