Research Analysts Set Expectations for BIO FY2024 Earnings

Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) - Equities researchers at Zacks Research increased their FY2024 EPS estimates for Bio-Rad Laboratories in a report issued on Wednesday, January 15th. Zacks Research analyst R. Department now forecasts that the medical research company will earn $10.27 per share for the year, up from their prior estimate of $10.20. The consensus estimate for Bio-Rad Laboratories' current full-year earnings is $10.30 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.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.85. Bio-Rad Laboratories had a negative net margin of 30.18% and a positive return on equity of 3.74%. The business had revenue of $649.70 million for the quarter, compared to analyst estimates of $628.18 million. During the same quarter in the previous year, the business earned $2.33 earnings per share. The firm's revenue was up 2.8% compared to the same quarter last year.

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

Bio-Rad Laboratories Stock Up 0.8 %

Shares of BIO traded up $2.77 during mid-day trading on Thursday, reaching $344.56. The company's stock had a trading volume of 147,254 shares, compared to its average volume of 150,475. The company has a market cap of $9.65 billion, a price-to-earnings ratio of -12.61 and a beta of 0.90. The business has a fifty day moving average of $337.60 and a 200 day moving average of $329.16. 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 has a 1 year low of $262.12 and a 1 year high of $387.99.

Hedge Funds Weigh In On Bio-Rad Laboratories

A number of hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in Bio-Rad Laboratories by 140.6% in the third quarter. UMB Bank n.a. now owns 77 shares of the medical research company's stock worth $26,000 after acquiring an additional 45 shares in the last quarter. Gladius Capital Management LP bought a new stake in Bio-Rad Laboratories in the third quarter worth $32,000. Point72 Hong Kong Ltd bought a new stake in Bio-Rad Laboratories in the third quarter worth $55,000. Quarry LP acquired a new position in Bio-Rad Laboratories during the second quarter worth $59,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Bio-Rad Laboratories by 281.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 271 shares of the medical research company's stock valued at $91,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

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.