Zacks Research Has Positive Forecast for BIO FY2024 Earnings

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Investment analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Bio-Rad Laboratories in a report issued on Wednesday, January 15th. Zacks Research analyst R. Department now expects that the medical research company will post earnings of $10.27 per share for the year, up from their prior forecast of $10.20. 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 $2.86 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.

Several other equities research analysts also recently weighed in on BIO. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $481.00 price target on shares of Bio-Rad Laboratories in a research note on Tuesday. StockNews.com raised Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup raised their price objective on Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $394.20.

Bio-Rad Laboratories Stock Up 0.2 %

Bio-Rad Laboratories stock opened at $343.06 on Thursday. The company has a market capitalization of $9.60 billion, a PE ratio of -12.55 and a beta of 0.90. Bio-Rad Laboratories has a 12-month low of $262.12 and a 12-month high of $387.99. The firm’s fifty day moving average is $338.19 and its 200 day moving average is $329.06. 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 (NYSE:BIO) last issued 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 firm 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 company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 earnings per share.

Institutional Trading of Bio-Rad Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in shares of Bio-Rad Laboratories by 97.8% during 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 buying an additional 644,530 shares during the last quarter. Select Equity Group L.P. boosted 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 worth $177,391,000 after acquiring an additional 134,856 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Bio-Rad Laboratories by 32,296.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 636,275 shares of the medical research company’s stock worth $173,773,000 after acquiring an additional 634,311 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Bio-Rad Laboratories by 17.8% in 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bio-Rad Laboratories by 64.4% during 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 purchasing an additional 193,700 shares in the last quarter. 65.24% of the stock is owned by 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.