FY2024 EPS Estimates for Bio-Rad Laboratories, Inc. Decreased by Analyst (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO) – Analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for shares of Bio-Rad Laboratories in a report released on Thursday, August 22nd. Zacks Research analyst U. Biswas now anticipates that the medical research company will post earnings per share of $10.34 for the year, down from their previous forecast of $10.41. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $10.80 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ Q1 2025 earnings at $2.57 EPS, Q4 2025 earnings at $3.08 EPS, Q1 2026 earnings at $3.03 EPS and Q2 2026 earnings at $3.04 EPS.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.99. Bio-Rad Laboratories had a positive return on equity of 3.56% and a negative net margin of 51.73%. The business had revenue of $638.50 million for the quarter, compared to the consensus estimate of $645.79 million. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $3.00 earnings per share.

BIO has been the subject of a number of other reports. Jefferies Financial Group restated a “hold” rating and issued a $315.00 price objective (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Royal Bank of Canada restated an “outperform” rating and set a $401.00 price target on shares of Bio-Rad Laboratories in a research report on Friday, August 16th. UBS Group decreased their price objective on Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup lifted their price target on Bio-Rad Laboratories from $300.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $362.75.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $314.94 on Monday. Bio-Rad Laboratories has a 1-year low of $261.59 and a 1-year high of $406.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.57 and a quick ratio of 4.89. The business has a 50 day moving average of $304.17 and a 200 day moving average of $308.01. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of -30.40 and a beta of 0.93.

Hedge Funds Weigh In On Bio-Rad Laboratories

Several hedge funds have recently modified their holdings of BIO. Vanguard Group Inc. increased its stake in Bio-Rad Laboratories by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,421,334 shares of the medical research company’s stock worth $837,467,000 after buying an additional 31,445 shares during the period. Van ECK Associates Corp bought a new position in Bio-Rad Laboratories in the 2nd quarter worth about $180,040,000. Select Equity Group L.P. increased its position in shares of Bio-Rad Laboratories by 26.2% during the second quarter. Select Equity Group L.P. now owns 649,522 shares of the medical research company’s stock worth $177,391,000 after acquiring an additional 134,856 shares during the period. First Eagle Investment Management LLC increased its position in shares of 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 acquiring an additional 634,311 shares during the period. Finally, Earnest Partners LLC raised its stake in shares of 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 valued at $165,720,000 after acquiring an additional 91,882 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Transactions at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 369 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $281.91, for a total value of $104,024.79. Following the transaction, the executive vice president now directly owns 6,573 shares in the company, valued at approximately $1,852,994.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Company Profile

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.