Bio-Rad Laboratories (NYSE:BIO) Issues Quarterly Earnings Results, Beats Estimates By $0.25 EPS

Bio-Rad Laboratories (NYSE:BIO) released its quarterly earnings results on Tuesday. The medical research company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.25, Briefing.com reports. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The business had revenue of $610.82 million for the quarter, compared to analysts’ expectations of $619.09 million. During the same period in the previous year, the company earned $3.34 earnings per share. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year.

Bio-Rad Laboratories Stock Performance

Shares of BIO stock opened at $268.26 on Thursday. The firm’s 50-day simple moving average is $315.16 and its two-hundred day simple moving average is $313.94. Bio-Rad Laboratories has a 52 week low of $261.59 and a 52 week high of $431.79. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.34 and a current ratio of 5.83. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of -12.48 and a beta of 0.94.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BIO. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. UBS Group cut their price target on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $461.00.

Insider Activity

In related news, EVP Michael Crowley sold 3,000 shares of Bio-Rad Laboratories stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total value of $1,008,000.00. Following the completion of the transaction, the executive vice president now directly 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 can be accessed through this link. Insiders own 17.50% of the company’s stock.

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.