$610.65 Million in Sales Expected for Bio-Rad Laboratories, Inc. (BIO) This Quarter

Equities research analysts predict that Bio-Rad Laboratories, Inc. (NYSE:BIO) will announce sales of $610.65 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Bio-Rad Laboratories’ earnings. The lowest sales estimate is $599.00 million and the highest is $622.30 million. Bio-Rad Laboratories reported sales of $620.43 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.6%. The firm is expected to report its next earnings results on Tuesday, February 26th.

On average, analysts expect that Bio-Rad Laboratories will report full year sales of $2.88 billion for the current fiscal year, with estimates ranging from $2.27 billion to $4.06 billion. For the next year, analysts anticipate that the company will report sales of $2.50 billion, with estimates ranging from $2.33 billion to $2.82 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Bio-Rad Laboratories.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Thursday, November 1st. The medical research company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.25). Bio-Rad Laboratories had a net margin of 55.13% and a return on equity of 3.72%. The firm had revenue of $545.10 million during the quarter, compared to the consensus estimate of $541.23 million. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year.

BIO has been the topic of several research analyst reports. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $420.00 price objective on shares of Bio-Rad Laboratories in a research note on Monday, September 24th. Barclays raised shares of Bio-Rad Laboratories from an “equal weight” rating to an “overweight” rating and set a $315.00 price objective on the stock in a research note on Thursday, January 3rd. Finally, Goldman Sachs Group started coverage on shares of Bio-Rad Laboratories in a research note on Wednesday, October 17th. They issued a “buy” rating and a $350.00 price objective on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Bio-Rad Laboratories presently has an average rating of “Buy” and a consensus price target of $338.43.

In other news, EVP Michael Crowley sold 392 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $248.03, for a total value of $97,227.76. Following the completion of the transaction, the executive vice president now directly owns 3,425 shares in the company, valued at $849,502.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Annette Tumolo sold 2,376 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $254.51, for a total transaction of $604,715.76. Following the completion of the transaction, the executive vice president now owns 1,504 shares of the company’s stock, valued at $382,783.04. The disclosure for this sale can be found here. Insiders have sold 5,027 shares of company stock valued at $1,267,916 in the last 90 days. 27.99% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Security National Trust Co. bought a new position in shares of Bio-Rad Laboratories in the third quarter valued at approximately $125,000. Boussard & Gavaudan Investment Management LLP bought a new position in shares of Bio-Rad Laboratories in the third quarter valued at approximately $202,000. First Republic Investment Management Inc. bought a new position in shares of Bio-Rad Laboratories in the third quarter valued at approximately $208,000. Regentatlantic Capital LLC bought a new stake in Bio-Rad Laboratories during the third quarter valued at approximately $222,000. Finally, We Are One Seven LLC bought a new stake in Bio-Rad Laboratories during the third quarter valued at approximately $254,000. Institutional investors own 62.30% of the company’s stock.

NYSE BIO traded down $4.16 on Friday, hitting $235.49. 6,711 shares of the company were exchanged, compared to its average volume of 200,655. The firm has a market cap of $7.18 billion, a PE ratio of 57.44, a P/E/G ratio of 2.36 and a beta of 1.19. Bio-Rad Laboratories has a 12 month low of $220.05 and a 12 month high of $345.15. The company has a quick ratio of 3.16, a current ratio of 4.49 and a debt-to-equity ratio of 0.09.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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