Equities Analysts Set Expectations for BIO FY2024 Earnings

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Stock analysts at Zacks Research raised their FY2024 earnings per share (EPS) 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 post earnings per share of $10.20 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.

Several other equities research analysts have also weighed in on BIO. Citigroup increased their price objective on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price target on Bio-Rad Laboratories from $369.00 to $481.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, 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 price objective for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $394.20.

Bio-Rad Laboratories Stock Up 0.5 %

Shares of NYSE:BIO opened at $327.47 on Friday. Bio-Rad Laboratories has a 1-year low of $262.12 and a 1-year high of $387.99. The company’s fifty day moving average is $340.72 and its two-hundred day moving average is $322.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.52 and a current ratio of 6.14. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of -11.98 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.85. The business had revenue of $649.70 million for 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 business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its position in Bio-Rad Laboratories by 97.8% in 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 acquiring an additional 644,530 shares during the period. Select Equity Group L.P. grew its stake in shares of 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 worth $177,391,000 after purchasing an additional 134,856 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Bio-Rad Laboratories by 32,296.9% during 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 purchasing an additional 634,311 shares during the period. Earnest Partners LLC raised its stake in shares of Bio-Rad Laboratories by 17.8% during the second 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 lifted its holdings 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 worth $135,081,000 after purchasing an additional 193,700 shares during the period. 65.24% of the stock is currently 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.