Bio-Rad Laboratories (NYSE:BIO) Announces Quarterly Earnings Results

by · The Markets Daily

Bio-Rad Laboratories (NYSE:BIO – Get Free Report) announced its quarterly earnings results on Thursday. The medical research company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.06), FiscalAI reports. The company had revenue of $693.20 million during the quarter, compared to analyst estimates of $694.64 million. Bio-Rad Laboratories had a positive return on equity of 4.19% and a negative net margin of 26.43%.

Bio-Rad Laboratories Stock Performance

BIO stock traded down $2.02 during midday trading on Thursday, hitting $291.67. The stock had a trading volume of 425,904 shares, compared to its average volume of 236,538. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of -12.00 and a beta of 1.18. The company has a current ratio of 5.44, a quick ratio of 3.94 and a debt-to-equity ratio of 0.18. The stock has a 50-day simple moving average of $307.25 and a 200 day simple moving average of $300.86. Bio-Rad Laboratories has a 52 week low of $211.43 and a 52 week high of $343.12.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BIO. Weiss Ratings restated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research note on Monday, December 29th. Citigroup boosted their price objective on Bio-Rad Laboratories from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wall Street Zen raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Finally, Wells Fargo & Company upped their price target on Bio-Rad Laboratories from $265.00 to $340.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bio-Rad Laboratories has an average rating of “Hold” and an average target price of $358.50.

Get Our Latest Analysis on BIO

Institutional Trading of Bio-Rad Laboratories

Several institutional investors have recently made changes to their positions in BIO. Geneos Wealth Management Inc. raised its position in Bio-Rad Laboratories by 115.2% in the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after purchasing an additional 76 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Bio-Rad Laboratories in the 4th quarter worth approximately $47,000. State of Wyoming bought a new position in shares of Bio-Rad Laboratories during the 4th quarter worth approximately $74,000. Quarry LP lifted its position in shares of Bio-Rad Laboratories by 131.5% during the 3rd quarter. Quarry LP now owns 287 shares of the medical research company’s stock worth $80,000 after buying an additional 163 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in Bio-Rad Laboratories by 241.2% in the third quarter. CIBC Private Wealth Group LLC now owns 331 shares of the medical research company’s stock valued at $93,000 after acquiring an additional 234 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

About Bio-Rad Laboratories

(Get Free Report)

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.

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