Bio-Rad Laboratories, Inc. to Post Q3 2024 Earnings of $1.28 Per Share, Zacks Research Forecasts (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) - Equities researchers at Zacks Research issued their Q3 2024 earnings per share estimates for shares of Bio-Rad Laboratories in a research note issued on Monday, October 14th. Zacks Research analyst R. Department forecasts that the medical research company will post earnings of $1.28 per share for the quarter. The consensus estimate for Bio-Rad Laboratories' current full-year earnings is $9.45 per share. Zacks Research also issued estimates for Bio-Rad Laboratories' FY2024 earnings at $9.46 EPS, Q4 2025 earnings at $2.97 EPS, FY2025 earnings at $11.37 EPS and Q2 2026 earnings at $3.25 EPS.

A number of other brokerages also recently commented on BIO. Wells Fargo & Company initiated coverage on Bio-Rad Laboratories in a research note on Tuesday, August 27th. They issued an "equal weight" rating and a $340.00 target price on the stock. Citigroup raised Bio-Rad Laboratories from a "neutral" rating to a "buy" rating and boosted their price target for the company from $350.00 to $400.00 in a research note on Tuesday, October 1st. StockNews.com lowered shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $401.00 target price on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $368.20.

Bio-Rad Laboratories Stock Down 3.6 %

Shares of NYSE BIO traded down $12.22 during mid-day trading on Wednesday, reaching $329.95. The company had a trading volume of 204,649 shares, compared to its average volume of 251,119. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.63 and a current ratio of 6.28. Bio-Rad Laboratories has a twelve month low of $261.59 and a twelve month high of $364.24. The stock's 50 day moving average is $329.64 and its 200-day moving average is $306.99. The stock has a market capitalization of $9.41 billion, a PE ratio of -31.85 and a beta of 0.95.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.11 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.99. Bio-Rad Laboratories had a negative net margin of 51.73% and a positive return on equity of 3.77%. The firm had revenue of $638.50 million for the quarter, compared to the consensus estimate of $645.79 million. During the same period in the previous year, the firm posted $3.00 earnings per share. The firm's revenue was down 6.3% on a year-over-year basis.

Insider Activity at Bio-Rad Laboratories

In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total transaction of $989,820.00. Following the transaction, the chief operating officer now owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Bio-Rad Laboratories news, COO Andrew J. Last sold 3,000 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $329.94, for a total transaction of $989,820.00. Following the completion of the transaction, the chief operating officer now owns 7,559 shares of the company's stock, valued at $2,494,016.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Barry sold 623 shares of the firm's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the completion of the sale, the executive vice president now directly owns 147 shares in the company, valued at approximately $48,582.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Bio-Rad Laboratories by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company's stock valued at $837,467,000 after purchasing an additional 31,445 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Bio-Rad Laboratories during the second quarter valued at about $180,040,000. Select Equity Group L.P. lifted 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 valued at $177,391,000 after buying an additional 134,856 shares during the period. First Eagle Investment Management LLC grew its position in 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 worth $173,773,000 after buying an additional 634,311 shares in the last quarter. Finally, Earnest Partners LLC grew its position in 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 worth $165,720,000 after buying an additional 91,882 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

About Bio-Rad Laboratories

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.