Bio-Rad Laboratories (NYSE:BIO) Shares Gap Down Following Weak Earnings

Key Points

• Shares gapped down after the report, opening at $261.47 from a $280.12 close and trading down to about $252.56, representing an ~11.0% decline.
• Bio‑Rad missed EPS, reporting $1.89 vs. analysts' $1.97 estimate (a $0.08 miss) while revenue was $592.1M, slightly above the $589.9M consensus; EPS fell from $2.54 year‑over‑year.
• Analysts have reacted with downgrades and lower targets (e.g., Citigroup cut to "neutral" and trimmed its target to $300 from $375), leaving a MarketBeat consensus rating of "Hold" and a $339.75 target price.

Bio-Rad Laboratories, Inc. (NYSE:BIO - Get Free Report)'s share price gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $280.12, but opened at $261.47. Bio-Rad Laboratories shares last traded at $252.5580, with a volume of 107,144 shares.

The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). The firm had revenue of $592.10 million for the quarter, compared to the consensus estimate of $589.91 million. Bio-Rad Laboratories had a return on equity of 3.86% and a net margin of 29.42%.The company's revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.54 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Citigroup cut Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and cut their price target for the company from $375.00 to $300.00 in a research note on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $339.75.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Bio-Rad Laboratories by 3.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 134,767 shares of the medical research company's stock worth $40,154,000 after buying an additional 4,262 shares in the last quarter. Sector Gamma AS increased its holdings in shares of Bio-Rad Laboratories by 28.0% during the third quarter. Sector Gamma AS now owns 22,827 shares of the medical research company's stock worth $6,400,000 after buying an additional 4,998 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Bio-Rad Laboratories by 67.1% during the third quarter. Natixis Advisors LLC now owns 65,069 shares of the medical research company's stock worth $18,245,000 after buying an additional 26,119 shares in the last quarter. Gotham Asset Management LLC increased its holdings in shares of Bio-Rad Laboratories by 41.8% during the third quarter. Gotham Asset Management LLC now owns 124,626 shares of the medical research company's stock worth $34,944,000 after buying an additional 36,763 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Bio-Rad Laboratories by 461.0% during the third quarter. TD Asset Management Inc now owns 8,988 shares of the medical research company's stock worth $2,520,000 after buying an additional 7,386 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Down 11.0%

The firm's fifty day moving average price is $277.81 and its 200-day moving average price is $298.20. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 8.95 and a beta of 1.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.62 and a quick ratio of 4.19.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.

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