Bio-Rad Laboratories (BIO) Set to Announce Quarterly Earnings on Wednesday

Bio-Rad Laboratories (NYSE:BIO) is scheduled to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Bio-Rad Laboratories to post earnings of $1.71 per share for the quarter. Bio-Rad Laboratories has set its FY 2024 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Bio-Rad Laboratories (NYSE:BIO) last posted its 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 3.77% and a negative net margin of 51.73%. The business had revenue of $638.50 million during the quarter, compared to analyst estimates of $645.79 million. During the same quarter in the previous year, the firm earned $3.00 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts expect Bio-Rad Laboratories to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Bio-Rad Laboratories Trading Down 2.4 %

Shares of Bio-Rad Laboratories stock opened at $320.23 on Monday. Bio-Rad Laboratories has a 12-month low of $261.59 and a 12-month high of $364.24. The company has a current ratio of 6.28, a quick ratio of 4.63 and a debt-to-equity ratio of 0.18. The company has a market cap of $9.13 billion, a price-to-earnings ratio of -30.91 and a beta of 0.95. The company’s 50-day moving average price is $331.37 and its 200-day moving average price is $307.15.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BIO. Royal Bank of Canada reissued an “outperform” rating and set a $401.00 price objective on shares of Bio-Rad Laboratories in a report on Friday, August 16th. Wells Fargo & Company initiated coverage on shares of Bio-Rad Laboratories in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $340.00 price target on the stock. Citigroup raised shares of Bio-Rad Laboratories from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $350.00 to $400.00 in a report on Tuesday, October 1st. Finally, StockNews.com cut Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.20.

Insider Transactions at Bio-Rad Laboratories

In related news, EVP James Barry sold 623 shares of Bio-Rad Laboratories stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $330.49, for a total value of $205,895.27. Following the transaction, the executive vice president now owns 147 shares in the company, valued at $48,582.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP James Barry sold 623 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $330.49, for a total transaction of $205,895.27. Following the transaction, the executive vice president now directly owns 147 shares in the company, valued at $48,582.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew J. Last sold 3,000 shares of Bio-Rad Laboratories stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $329.94, for a total value of $989,820.00. Following the completion of the transaction, the chief operating officer now directly owns 7,559 shares in the company, valued at $2,494,016.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.