Bio-Rad Laboratories (NYSE:BIO) posted its quarterly earnings data on Thursday. The medical research company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.18, Bloomberg Earnings reports. The business had revenue of $572.60 million during the quarter, compared to the consensus estimate of $564.88 million. Bio-Rad Laboratories had a return on equity of 4.15% and a net margin of 24.84%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. Bio-Rad Laboratories updated its FY 2019 guidance to EPS.
BIO stock opened at $324.57 on Friday. The firm has a market capitalization of $9.56 billion, a P/E ratio of 55.58, a P/E/G ratio of 2.99 and a beta of 1.22. Bio-Rad Laboratories has a twelve month low of $220.05 and a twelve month high of $345.15. The company has a 50 day moving average price of $310.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.57 and a quick ratio of 3.24.
Several equities research analysts have recently weighed in on BIO shares. Zacks Investment Research downgraded Bio-Rad Laboratories from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays reissued an “overweight” rating and issued a $380.00 price objective (up from $350.00) on shares of Bio-Rad Laboratories in a report on Friday. They noted that the move was a valuation call. ValuEngine downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Deutsche Bank increased their price objective on Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $370.00.
Several institutional investors have recently added to or reduced their stakes in BIO. Norges Bank purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth approximately $46,327,000. American Century Companies Inc. raised its stake in shares of Bio-Rad Laboratories by 14.7% during the first quarter. American Century Companies Inc. now owns 788,955 shares of the medical research company’s stock worth $241,168,000 after purchasing an additional 100,850 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Bio-Rad Laboratories by 197.7% during the first quarter. Assenagon Asset Management S.A. now owns 66,203 shares of the medical research company’s stock worth $20,237,000 after purchasing an additional 43,964 shares during the last quarter. Tygh Capital Management Inc. purchased a new stake in shares of Bio-Rad Laboratories during the first quarter worth approximately $12,812,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Bio-Rad Laboratories during the second quarter worth approximately $13,083,000. Institutional investors and hedge funds own 64.52% of the company’s stock.
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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