Bio-Rad Laboratories, Inc. to Post Q3 2024 Earnings of $1.28 Per Share, Zacks Research Forecasts (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Investment analysts at Zacks Research issued their Q3 2024 EPS estimates for Bio-Rad Laboratories in a research note issued on Monday, October 14th. Zacks Research analyst R. Department forecasts that the medical research company will earn $1.28 per share for the quarter. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $9.45 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ FY2024 earnings at $9.46 EPS, Q4 2025 earnings at $2.97 EPS, FY2025 earnings at $11.37 EPS and Q2 2026 earnings at $3.25 EPS.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Bio-Rad Laboratories in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $340.00 price target on the stock. StockNews.com downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $401.00 price target on shares of Bio-Rad Laboratories in a report on Friday, August 16th. Finally, Citigroup upgraded shares of Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $350.00 to $400.00 in a research report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $368.20.

Bio-Rad Laboratories Trading Down 3.6 %

Shares of NYSE BIO opened at $329.95 on Wednesday. The company’s fifty day moving average is $329.64 and its 200-day moving average is $306.99. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of -31.85 and a beta of 0.95. Bio-Rad Laboratories has a twelve month low of $261.59 and a twelve month high of $364.24. 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 posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.99. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The company had revenue of $638.50 million during the quarter, compared to analyst estimates of $645.79 million. During the same quarter last year, the business posted $3.00 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis.

Institutional Investors Weigh In On Bio-Rad Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC grew its holdings in Bio-Rad Laboratories by 32,296.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after buying an additional 634,311 shares in the last quarter. Swedbank AB bought a new stake in shares of Bio-Rad Laboratories in the first quarter valued at about $1,824,000. DAVENPORT & Co LLC bought a new position in Bio-Rad Laboratories in the first quarter worth about $15,340,000. Gabelli Funds LLC raised its holdings in Bio-Rad Laboratories by 16.8% in the first quarter. Gabelli Funds LLC now owns 41,800 shares of the medical research company’s stock worth $14,457,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in Bio-Rad Laboratories in the first quarter worth about $567,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Transactions at Bio-Rad Laboratories

In other news, EVP James Barry sold 623 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $48,582.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP James Barry sold 623 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total transaction of $205,895.27. Following the sale, the executive vice president now owns 147 shares in the company, valued at approximately $48,582.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Andrew J. Last sold 3,000 shares of the company’s 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 completion of the transaction, the chief operating officer now owns 7,559 shares in the company, valued at approximately $2,494,016.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.06% 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.