Zacks Research Has Positive Outlook of BIO FY2024 Earnings

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Investment analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Bio-Rad Laboratories in a note issued to investors on Wednesday, December 18th. Zacks Research analyst R. Department now forecasts that the medical research company will earn $10.20 per share for the year, up from their prior forecast of $10.18. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $10.29 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ Q4 2024 earnings at $2.79 EPS, Q1 2025 earnings at $2.30 EPS, Q2 2025 earnings at $3.01 EPS, FY2025 earnings at $11.46 EPS and Q1 2026 earnings at $3.09 EPS.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.85. The firm had revenue of $649.70 million during the quarter, compared to analyst estimates of $628.18 million. Bio-Rad Laboratories had a positive return on equity of 3.74% and a negative net margin of 30.18%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 EPS.

BIO has been the subject of several other research reports. Wells Fargo & Company assumed coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 target price for the company. Royal Bank of Canada increased their price objective on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Citigroup boosted their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $394.20.

Bio-Rad Laboratories Price Performance

Shares of NYSE:BIO opened at $327.47 on Friday. The company has a current ratio of 6.14, a quick ratio of 4.52 and a debt-to-equity ratio of 0.16. The stock has a market cap of $9.17 billion, a PE ratio of -11.98 and a beta of 0.90. The stock’s fifty day simple moving average is $340.91 and its two-hundred day simple moving average is $322.11. Bio-Rad Laboratories has a 1-year low of $262.12 and a 1-year high of $387.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC raised its stake in shares of Bio-Rad Laboratories by 193.8% in the second quarter. Capital Advisors Ltd. LLC now owns 94 shares of the medical research company’s stock valued at $26,000 after buying an additional 62 shares during the period. UMB Bank n.a. increased its holdings in Bio-Rad Laboratories by 140.6% in the 3rd quarter. UMB Bank n.a. now owns 77 shares of the medical research company’s stock worth $26,000 after acquiring an additional 45 shares during the last quarter. Gladius Capital Management LP bought a new stake in Bio-Rad Laboratories in the 3rd quarter valued at about $32,000. Headlands Technologies LLC purchased a new stake in Bio-Rad Laboratories during the second quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd bought a new position in Bio-Rad Laboratories during the third quarter worth about $55,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

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.