Bio-Rad Laboratories, Inc. (NYSE:BIO) to Post Q3 2024 Earnings of $2.13 Per Share, Zacks Research Forecasts

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Investment analysts at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for shares of Bio-Rad Laboratories in a note issued to investors on Tuesday, September 17th. Zacks Research analyst R. Department now expects that the medical research company will post earnings of $2.13 per share for the quarter, down from their previous forecast of $2.14. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $10.31 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ Q2 2025 earnings at $2.85 EPS.

A number of other equities analysts also recently commented on BIO. Jefferies Financial Group reiterated a “hold” rating and set a $315.00 target price (down previously from $440.00) on shares of Bio-Rad Laboratories in a research note on Monday, June 3rd. Citigroup increased their price objective on Bio-Rad Laboratories from $300.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 target price for the company. StockNews.com lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Bio-Rad Laboratories currently has an average rating of “Hold” and a consensus target price of $358.20.

Bio-Rad Laboratories Trading Up 2.1 %

NYSE BIO opened at $340.66 on Thursday. Bio-Rad Laboratories has a 52 week low of $261.59 and a 52 week high of $370.57. The firm has a 50 day moving average of $321.07 and a two-hundred day moving average of $307.38. The stock has a market capitalization of $9.72 billion, a PE ratio of -32.88 and a beta of 0.95. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.99. The business had revenue of $638.50 million during the quarter, compared to the consensus estimate of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.77% and a negative net margin of 51.73%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 earnings per share.

Insider Buying and Selling

In other news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the sale, the chief operating officer now directly owns 7,559 shares of the company’s stock, valued at $2,494,016.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP James Barry sold 623 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the sale, the executive vice president now directly owns 147 shares of the company’s stock, valued at $48,582.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew J. Last sold 3,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the sale, the chief operating officer now owns 7,559 shares of the company’s stock, valued at approximately $2,494,016.46. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by company insiders.

Institutional Trading of Bio-Rad Laboratories

Hedge funds have recently added to or reduced their stakes in the stock. Brio Consultants LLC purchased a new position in Bio-Rad Laboratories in the 4th quarter valued at $840,000. Principal Securities Inc. purchased a new stake in shares of Bio-Rad Laboratories in the fourth quarter valued at about $41,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Bio-Rad Laboratories by 26.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,578 shares of the medical research company’s stock worth $510,000 after acquiring an additional 332 shares during the period. ING Groep NV raised its holdings in Bio-Rad Laboratories by 5,200.0% during the fourth quarter. ING Groep NV now owns 6,466 shares of the medical research company’s stock worth $2,088,000 after purchasing an additional 6,344 shares in the last quarter. Finally, Norges Bank acquired a new stake in Bio-Rad Laboratories in the fourth quarter valued at about $73,142,000. 65.24% of the stock is owned by institutional investors and hedge funds.

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.