Zacks Research Has Positive Forecast for BIO FY2024 Earnings

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Equities researchers at Zacks Research upped their FY2024 earnings per share estimates for shares of Bio-Rad Laboratories in a research report issued to clients and investors on Wednesday, January 15th. Zacks Research analyst R. Department now anticipates that the medical research company will post earnings per share of $10.27 for the year, up from their previous estimate 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.

Other equities research analysts have also recently issued reports about the company. Citigroup lifted their price objective 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. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $394.20.

Bio-Rad Laboratories Stock Up 0.8 %

Shares of Bio-Rad Laboratories stock opened at $344.56 on Thursday. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories has a 12 month low of $262.12 and a 12 month high of $387.99. The business has a fifty 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.

Bio-Rad Laboratories (NYSE:BIO) last released its 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. The company had revenue of $649.70 million during the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $2.33 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIO. Van ECK Associates Corp grew its stake in Bio-Rad Laboratories by 97.8% in the third quarter. Van ECK Associates Corp now owns 1,303,752 shares of the medical research company’s stock valued at $436,861,000 after acquiring an additional 644,530 shares during the period. First Eagle Investment Management LLC grew its stake in Bio-Rad Laboratories by 32,296.9% in the second quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock valued at $173,773,000 after acquiring an additional 634,311 shares during the period. Point72 Asset Management L.P. acquired a new position in Bio-Rad Laboratories in the third quarter valued at about $83,681,000. Dimensional Fund Advisors LP grew its stake in Bio-Rad Laboratories by 64.4% in the second quarter. Dimensional Fund Advisors LP now owns 494,604 shares of the medical research company’s stock valued at $135,081,000 after acquiring an additional 193,700 shares during the period. Finally, Select Equity Group L.P. grew its stake in Bio-Rad Laboratories by 26.2% in the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock valued at $177,391,000 after acquiring an additional 134,856 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

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.