Bio-Rad Laboratories (BIO) Scheduled to Post Earnings on Wednesday

Bio-Rad Laboratories (NYSE:BIO) is set to release its earnings data 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 interested in registering for 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 EPS for the quarter, topping the consensus estimate of $2.12 by $0.99. The firm had revenue of $638.50 million for the quarter, compared to analyst estimates of $645.79 million. Bio-Rad Laboratories had a positive return on equity of 3.77% and a negative net margin of 51.73%. Bio-Rad Laboratories’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $3.00 earnings per share. 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 Stock Down 0.9 %

Bio-Rad Laboratories stock opened at $340.10 on Wednesday. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of -32.83 and a beta of 0.95. Bio-Rad Laboratories has a 52 week low of $261.59 and a 52 week high of $364.24. The business’s 50-day moving average price is $330.87 and its 200 day moving average price is $307.14. The company has a quick ratio of 4.63, a current ratio of 6.28 and a debt-to-equity ratio of 0.18.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP James Barry sold 623 shares of the 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 owns 147 shares in the company, valued at approximately $48,582.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew J. Last sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 owns 7,559 shares in the company, valued at approximately $2,494,016.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

About Bio-Rad Laboratories

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.