Zacks Research Weighs in on Bio-Rad Laboratories, Inc.’s Q1 2024 Earnings (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Equities researchers at Zacks Research reduced their Q1 2024 earnings per share estimates for Bio-Rad Laboratories in a research note issued on Monday, April 15th. Zacks Research analyst R. Anand now forecasts that the medical research company will post earnings of $2.06 per share for the quarter, down from their prior forecast of $2.09. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $10.41 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ Q2 2024 earnings at $2.17 EPS, Q4 2024 earnings at $3.39 EPS, Q2 2025 earnings at $1.95 EPS, Q4 2025 earnings at $3.30 EPS, FY2025 earnings at $11.47 EPS, Q1 2026 earnings at $2.84 EPS and FY2026 earnings at $12.27 EPS.

Bio-Rad Laboratories (NYSE:BIO) last issued its earnings results on Thursday, February 15th. The medical research company reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.17. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The firm had revenue of $681.18 million for the quarter, compared to the consensus estimate of $685.00 million. During the same quarter in the previous year, the company posted $3.31 earnings per share. The business’s quarterly revenue was down 6.7% compared to the same quarter last year.

A number of other analysts have also recently weighed in on BIO. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Royal Bank of Canada reduced their price target on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Finally, UBS Group boosted their price objective on Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $468.00.

Bio-Rad Laboratories Stock Performance

Shares of NYSE BIO opened at $292.85 on Tuesday. Bio-Rad Laboratories has a one year low of $261.59 and a one year high of $489.36. The business’s 50-day moving average price is $332.35 and its two-hundred day moving average price is $321.22. The company has a market capitalization of $8.35 billion, a P/E ratio of -13.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.83 and a quick ratio of 4.34.

Insider Activity

In related news, EVP Michael Crowley sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the sale, the executive vice president now directly owns 6,942 shares in the company, valued at approximately $2,332,512. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BIO. Quarry LP acquired a new stake in Bio-Rad Laboratories during the 4th quarter worth $27,000. Farther Finance Advisors LLC increased its holdings in Bio-Rad Laboratories by 42.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 101 shares of the medical research company’s stock worth $38,000 after purchasing an additional 30 shares in the last quarter. Sound Income Strategies LLC bought a new position in Bio-Rad Laboratories during the 1st quarter worth about $38,000. Gladius Capital Management LP increased its holdings in Bio-Rad Laboratories by 65.8% during the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Bio-Rad Laboratories during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 65.24% 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.