Q1 2024 EPS Estimates for Bio-Rad Laboratories, Inc. Lowered by Analyst (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Investment analysts at Zacks Research dropped their Q1 2024 EPS estimates for shares of Bio-Rad Laboratories in a report released on Tuesday, April 2nd. Zacks Research analyst R. Anand now forecasts that the medical research company will post earnings of $2.09 per share for the quarter, down from their prior estimate of $2.15. 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’ Q4 2024 earnings at $3.25 EPS, FY2024 earnings at $10.43 EPS, Q1 2025 earnings at $2.35 EPS, Q2 2025 earnings at $1.99 EPS and FY2025 earnings at $11.83 EPS.

Bio-Rad Laboratories (NYSE:BIO) last issued 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. The company had revenue of $681.18 million for the quarter, compared to the consensus estimate of $685.00 million. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.31 EPS.

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

Bio-Rad Laboratories Price Performance

BIO opened at $323.30 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.83 and a quick ratio of 4.34. Bio-Rad Laboratories has a 1 year low of $261.59 and a 1 year high of $494.05. The stock’s 50 day simple moving average is $333.94 and its 200 day simple moving average is $324.02. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of -15.04 and a beta of 0.87.

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the firm’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 completion of the transaction, the executive vice president now owns 6,942 shares in the company, valued at approximately $2,332,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Eagle Asset Management Inc. boosted its stake in shares of Bio-Rad Laboratories by 1.0% during the 4th quarter. Eagle Asset Management Inc. now owns 2,225 shares of the medical research company’s stock worth $939,000 after purchasing an additional 23 shares during the period. Mather Group LLC. boosted its position in Bio-Rad Laboratories by 6.8% in the 1st quarter. Mather Group LLC. now owns 377 shares of the medical research company’s stock valued at $212,000 after buying an additional 24 shares during the period. Raymond James Trust N.A. grew its stake in Bio-Rad Laboratories by 5.5% in the 1st quarter. Raymond James Trust N.A. now owns 501 shares of the medical research company’s stock worth $283,000 after acquiring an additional 26 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Bio-Rad Laboratories by 3.9% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 768 shares of the medical research company’s stock worth $320,000 after purchasing an additional 29 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Bio-Rad Laboratories by 42.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 101 shares of the medical research company’s stock worth $38,000 after buying an additional 30 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

About Bio-Rad Laboratories

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.