Zacks Research Has Positive Forecast for BIO FY2024 Earnings

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Equities research analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for shares of Bio-Rad Laboratories in a note issued to investors on Wednesday, January 15th. Zacks Research analyst R. Department now expects that the medical research company will earn $10.27 per share for the year, up from their previous forecast of $10.20. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $10.30 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ Q4 2024 earnings at $2.86 EPS, Q1 2025 earnings at $2.29 EPS, Q2 2025 earnings at $3.15 EPS, Q4 2025 earnings at $3.16 EPS, FY2025 earnings at $11.53 EPS, Q1 2026 earnings at $3.05 EPS, Q2 2026 earnings at $3.20 EPS and Q3 2026 earnings at $2.89 EPS.

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

A number of other equities analysts have also recently issued reports on BIO. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $481.00 target price on shares of Bio-Rad Laboratories in a report on Tuesday. Finally, Citigroup increased their target price on Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Bio-Rad Laboratories presently has an average rating of “Moderate Buy” and an average target price of $394.20.

Bio-Rad Laboratories Trading Up 0.8 %

Shares of BIO opened at $344.56 on Thursday. Bio-Rad Laboratories has a 1 year low of $262.12 and a 1 year high of $387.99. 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 50 day simple moving average of $337.60 and a 200-day simple moving average of $329.16. The stock has a market cap of $9.65 billion, a PE ratio of -12.61 and a beta of 0.90.

Institutional Investors Weigh In On Bio-Rad Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its holdings in Bio-Rad Laboratories by 97.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after purchasing an additional 644,530 shares in the last quarter. Select Equity Group L.P. increased its holdings in Bio-Rad Laboratories by 26.2% during the 2nd quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock valued at $177,391,000 after purchasing an additional 134,856 shares in the last quarter. First Eagle Investment Management LLC increased 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 purchasing an additional 634,311 shares in the last quarter. Earnest Partners LLC increased its holdings in Bio-Rad Laboratories by 17.8% during the 2nd quarter. Earnest Partners LLC now owns 606,788 shares of the medical research company’s stock valued at $165,720,000 after purchasing an additional 91,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Bio-Rad Laboratories by 64.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock valued at $135,081,000 after buying an additional 193,700 shares during the last quarter. 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.