Zacks Research Comments on Bio-Rad Laboratories, Inc.’s Q2 2024 Earnings (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for shares of Bio-Rad Laboratories in a research report issued to clients and investors on Tuesday, April 2nd. Zacks Research analyst R. Anand now anticipates that the medical research company will earn $2.30 per share for the quarter, down from their prior forecast of $2.64. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $10.41 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ Q3 2025 earnings at $4.05 EPS, Q4 2025 earnings at $3.44 EPS and Q1 2026 earnings at $2.73 EPS.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.17. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The firm had revenue of $681.18 million during the quarter, compared to the consensus estimate of $685.00 million. During the same quarter in the prior year, the firm posted $3.31 EPS. The business’s revenue was down 6.7% on a year-over-year basis.

A number of other analysts have also commented on the company. UBS Group lifted their price target on Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Royal Bank of Canada decreased their price objective on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup lowered Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $400.00 to $365.00 in a report on Wednesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Bio-Rad Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $468.00.

Bio-Rad Laboratories Stock Down 0.2 %

BIO opened at $328.19 on Thursday. The company has a current ratio of 5.83, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14. Bio-Rad Laboratories has a 1-year low of $261.59 and a 1-year high of $494.05. The stock has a market cap of $9.36 billion, a PE ratio of -15.27 and a beta of 0.87. The stock’s fifty day simple moving average is $333.80 and its 200 day simple moving average is $324.03.

Insider Buying and Selling

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the sale, the executive vice president now directly owns 6,942 shares in the company, valued at $2,332,512. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 17.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently modified their holdings of BIO. Massachusetts Financial Services Co. MA purchased a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at $116,036,000. Norges Bank acquired a new stake in shares of Bio-Rad Laboratories during the 4th quarter valued at about $73,142,000. Parnassus Investments LLC acquired a new stake in Bio-Rad Laboratories in the 3rd quarter worth about $79,143,000. Parsifal Capital Management LP acquired a new stake in Bio-Rad Laboratories in the 4th quarter worth about $61,866,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth approximately $62,351,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.