Q2 2024 Earnings Forecast for Bio-Rad Laboratories, Inc. (NYSE:BIO) Issued By Zacks Research

Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) - Equities researchers at Zacks Research cut their Q2 2024 earnings estimates for shares of Bio-Rad Laboratories in a research report issued on Tuesday, April 2nd. Zacks Research analyst R. Anand now expects that the medical research company will earn $2.30 per share for the quarter, down from their prior estimate of $2.64. The consensus estimate for Bio-Rad Laboratories' current full-year earnings is $10.41 per share. Zacks Research also issued estimates for Bio-Rad Laboratories' Q3 2025 earnings at $4.05 EPS, Q4 2025 earnings at $3.44 EPS and Q1 2026 earnings at $2.73 EPS.

A number of other equities analysts have also commented on BIO. Royal Bank of Canada cut their price objective on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an "outperform" rating on the stock in a report on Friday, February 16th. UBS Group upped their target price on shares of Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Citigroup lowered shares of Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and cut their target price for the company from $400.00 to $365.00 in a research note on Wednesday. Finally, StockNews.com upgraded shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Bio-Rad Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $468.00.

Bio-Rad Laboratories Stock Down 1.5 %

BIO stock traded down $4.88 during trading on Thursday, reaching $323.30. The stock had a trading volume of 130,183 shares, compared to its average volume of 201,146. Bio-Rad Laboratories has a 1-year low of $261.59 and a 1-year high of $494.05. The company has a current ratio of 5.83, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $9.22 billion, a P/E ratio of -15.27 and a beta of 0.87. The firm has a fifty day moving average price of $333.80 and a 200 day moving average price of $324.03.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.93 by $0.17. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The firm had revenue of $681.18 million during the quarter, compared to analysts' expectations of $685.00 million. During the same period in the prior year, the company earned $3.31 EPS. The firm's revenue was down 6.7% on a year-over-year basis.

Insider Activity at Bio-Rad Laboratories

In related news, EVP Michael Crowley sold 3,000 shares of the business's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the completion of the sale, the executive vice president now owns 6,942 shares of the company's stock, valued at approximately $2,332,512. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 17.06% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Eagle Asset Management Inc. grew its position in Bio-Rad Laboratories by 1.0% in the 4th quarter. Eagle Asset Management Inc. now owns 2,225 shares of the medical research company's stock worth $939,000 after purchasing an additional 23 shares during the last quarter. Mather Group LLC. lifted its stake in Bio-Rad Laboratories by 6.8% during the first quarter. Mather Group LLC. now owns 377 shares of the medical research company's stock valued at $212,000 after purchasing an additional 24 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Bio-Rad Laboratories by 5.5% during the first quarter. Raymond James Trust N.A. now owns 501 shares of the medical research company's stock valued at $283,000 after purchasing an additional 26 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Bio-Rad Laboratories by 3.9% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 768 shares of the medical research company's stock valued at $320,000 after purchasing an additional 29 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Bio-Rad Laboratories by 42.3% during the second quarter. Farther Finance Advisors LLC now owns 101 shares of the medical research company's stock valued at $38,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

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.