What is Zacks Research's Forecast for BIO FY2024 Earnings?

Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) - Investment analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Bio-Rad Laboratories in a note issued to investors on Wednesday, December 18th. Zacks Research analyst R. Department now expects that the medical research company will post earnings per share of $10.20 for the year, up from their prior estimate 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.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $628.18 million. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The company's revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 EPS.

A number of other equities analysts also recently issued reports on the company. StockNews.com upgraded Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Wells Fargo & Company began coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They set an "equal weight" rating and a $340.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Bio-Rad Laboratories from $369.00 to $481.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Finally, 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 report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $394.20.

Bio-Rad Laboratories Trading Up 0.5 %

BIO traded up $1.53 during midday trading on Friday, hitting $327.47. 691,290 shares of the company were exchanged, compared to its average volume of 242,738. The firm's 50 day moving average price is $340.91 and its 200-day moving average price is $322.11. Bio-Rad Laboratories has a 1-year low of $262.12 and a 1-year high of $387.99. The firm has a market capitalization of $9.17 billion, a P/E ratio of -11.98 and a beta of 0.90. The company has a quick ratio of 4.52, a current ratio of 6.14 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp acquired a new position in shares of Bio-Rad Laboratories during the second quarter worth approximately $180,040,000. First Eagle Investment Management LLC increased its stake 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. Point72 Asset Management L.P. acquired a new position in Bio-Rad Laboratories during the third quarter worth $83,681,000. Dimensional Fund Advisors LP lifted its stake in shares of 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 buying an additional 193,700 shares in the last quarter. Finally, Select Equity Group L.P. grew its holdings in shares of Bio-Rad Laboratories by 26.2% during 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 buying an additional 134,856 shares during the last quarter. 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.