Analysts forecast that Bio-Rad Laboratories, Inc. (NYSE:BIO) will announce sales of $533.57 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Bio-Rad Laboratories’ earnings, with the highest sales estimate coming in at $540.00 million and the lowest estimate coming in at $526.20 million. Bio-Rad Laboratories posted sales of $500.05 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The business is expected to announce its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Bio-Rad Laboratories will report full-year sales of $533.57 million for the current financial year, with estimates ranging from $2.28 billion to $2.30 billion. For the next year, analysts anticipate that the firm will report sales of $2.39 billion per share, with estimates ranging from $2.37 billion to $2.40 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Bio-Rad Laboratories.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Tuesday, February 27th. The medical research company reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.22. The business had revenue of $620.43 million during the quarter, compared to analysts’ expectations of $618.89 million. Bio-Rad Laboratories had a net margin of 5.31% and a return on equity of 3.63%.
A number of equities analysts recently issued reports on the stock. Wells Fargo & Co lowered their price objective on shares of Bio-Rad Laboratories from $290.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Jefferies Group upped their price objective on shares of Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Citigroup upped their price objective on shares of Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. CL King cut shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a research report on Friday, February 16th. Finally, Zacks Investment Research upgraded shares of 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 report on Wednesday, December 13th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $295.20.
In other Bio-Rad Laboratories news, CFO Christine A. Tsingos sold 4,980 shares of the company’s stock in a transaction that occurred 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 directly owns 7,283 shares in the company, valued at approximately $1,816,380.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 28.29% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in BIO. Xact Kapitalforvaltning AB bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at $423,000. MetLife Investment Advisors LLC bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at $3,053,000. Castleark Management LLC bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at $4,602,000. Jane Street Group LLC bought a new stake in shares of Bio-Rad Laboratories in the 4th quarter valued at $408,000. Finally, Verition Fund Management LLC boosted its stake in shares of Bio-Rad Laboratories by 72.0% in the 4th quarter. Verition Fund Management LLC now owns 3,890 shares of the medical research company’s stock valued at $928,000 after purchasing an additional 1,628 shares during the last quarter. Hedge funds and other institutional investors own 63.93% of the company’s stock.
Bio-Rad Laboratories (BIO) traded up $8.27 during mid-day trading on Wednesday, reaching $274.11. 143,629 shares of the company were exchanged, compared to its average volume of 186,374. The firm has a market cap of $7,912.20, a PE ratio of 71.94, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. Bio-Rad Laboratories has a twelve month low of $194.01 and a twelve month high of $279.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.93.
Bio-Rad Laboratories declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 28th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
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Bio-Rad Laboratories Company Profile
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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