Zacks: Analysts Anticipate Bio-Rad Laboratories, Inc. (NYSE:BIO) Will Post Quarterly Sales of $564.13 Million

Brokerages forecast that Bio-Rad Laboratories, Inc. (NYSE:BIO) will post $564.13 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Bio-Rad Laboratories’ earnings, with estimates ranging from $561.40 million to $566.85 million. Bio-Rad Laboratories posted sales of $545.14 million during the same quarter last year, which suggests a positive year over year growth rate of 3.5%. The company is expected to report its next earnings report on Thursday, November 7th.

On average, analysts expect that Bio-Rad Laboratories will report full-year sales of $2.34 billion for the current financial year, with estimates ranging from $2.34 billion to $2.35 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.44 billion, with estimates ranging from $2.43 billion to $2.44 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Bio-Rad Laboratories.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, August 1st. The medical research company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. Bio-Rad Laboratories had a net margin of 39.32% and a return on equity of 3.92%. The company had revenue of $572.60 million during the quarter, compared to the consensus estimate of $564.88 million. During the same period in the previous year, the business earned $1.64 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis.

BIO has been the subject of a number of analyst reports. Barclays lifted their price target on shares of Bio-Rad Laboratories from $350.00 to $380.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Bio-Rad Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Deutsche Bank lifted their price target on shares of Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, ValuEngine upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $370.00.

Shares of NYSE BIO traded up $8.37 during midday trading on Tuesday, reaching $327.50. The company’s stock had a trading volume of 164,300 shares, compared to its average volume of 228,146. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 4.68. Bio-Rad Laboratories has a fifty-two week low of $220.05 and a fifty-two week high of $338.67. The business’s 50 day moving average price is $317.72 and its two-hundred day moving average price is $300.00. The company has a market cap of $9.51 billion, a P/E ratio of 56.08, a P/E/G ratio of 2.96 and a beta of 1.21.

In related news, EVP Timothy S. Ernst sold 310 shares of Bio-Rad Laboratories stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $320.00, for a total value of $99,200.00. Following the transaction, the executive vice president now directly owns 3,100 shares of the company’s stock, valued at $992,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 27.84% of the company’s stock.

Large investors have recently made changes to their positions in the stock. First Citizens Bank & Trust Co. increased its stake in Bio-Rad Laboratories by 38.0% in the first quarter. First Citizens Bank & Trust Co. now owns 1,720 shares of the medical research company’s stock valued at $526,000 after acquiring an additional 474 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Bio-Rad Laboratories by 5.4% in the first quarter. Parametric Portfolio Associates LLC now owns 84,946 shares of the medical research company’s stock valued at $25,966,000 after acquiring an additional 4,328 shares during the last quarter. Osborn Williams & Donohoe LLC bought a new position in Bio-Rad Laboratories in the first quarter valued at approximately $98,000. Avalon Advisors LLC bought a new position in Bio-Rad Laboratories in the first quarter valued at approximately $3,395,000. Finally, Louisiana State Employees Retirement System increased its stake in Bio-Rad Laboratories by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the medical research company’s stock valued at $1,651,000 after acquiring an additional 100 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Bio-Rad Laboratories (NYSE:BIO)

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