Bio-Rad Laboratories (NYSE:BIO) released its quarterly earnings results on Thursday. The medical research company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18, Bloomberg Earnings reports. Bio-Rad Laboratories had a net margin of 39.32% and a return on equity of 4.11%. The firm had revenue of $572.60 million during the quarter, compared to the consensus estimate of $564.88 million. During the same quarter in the prior year, the firm earned $1.64 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Bio-Rad Laboratories updated its FY 2019 guidance to EPS.
BIO opened at $336.00 on Friday. Bio-Rad Laboratories has a twelve month low of $220.05 and a twelve month high of $345.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.24 and a current ratio of 4.57. The stock’s 50-day moving average is $311.57. The firm has a market cap of $9.25 billion, a P/E ratio of 57.53, a PEG ratio of 2.89 and a beta of 1.21.
In related news, EVP Timothy S. Ernst sold 345 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $290.00, for a total transaction of $100,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.84% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in Bio-Rad Laboratories by 14.7% in the 1st quarter. American Century Companies Inc. now owns 788,955 shares of the medical research company’s stock valued at $241,168,000 after acquiring an additional 100,850 shares during the last quarter. Geode Capital Management LLC raised its holdings in Bio-Rad Laboratories by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 214,188 shares of the medical research company’s stock valued at $49,738,000 after acquiring an additional 15,557 shares during the last quarter. Norges Bank acquired a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $46,327,000. First Trust Advisors LP raised its holdings in Bio-Rad Laboratories by 3.7% in the 1st quarter. First Trust Advisors LP now owns 193,600 shares of the medical research company’s stock valued at $59,180,000 after acquiring an additional 6,976 shares during the last quarter. Finally, FMR LLC raised its holdings in Bio-Rad Laboratories by 12.7% in the 1st quarter. FMR LLC now owns 182,762 shares of the medical research company’s stock valued at $55,867,000 after acquiring an additional 20,560 shares during the last quarter. Hedge funds and other institutional investors own 64.52% of the company’s stock.
Several research firms recently weighed in on BIO. Zacks Investment Research downgraded shares of Bio-Rad Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Deutsche Bank upped their price target on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Barclays upped their price target on shares of Bio-Rad Laboratories from $350.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Bio-Rad Laboratories has an average rating of “Buy” and a consensus price target of $370.00.
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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