Research Analysts Set Expectations for Bio-Rad Laboratories, Inc.'s Q1 2024 Earnings (NYSE:BIO)

Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) - Analysts at Zacks Research decreased their Q1 2024 earnings per share (EPS) estimates for shares of Bio-Rad Laboratories in a research report issued on Monday, April 15th. Zacks Research analyst R. Anand now anticipates that the medical research company will post earnings per share of $2.06 for the quarter, down from their prior estimate of $2.09. 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' Q2 2024 earnings at $2.17 EPS, Q4 2024 earnings at $3.39 EPS, Q2 2025 earnings at $1.95 EPS, Q4 2025 earnings at $3.30 EPS, FY2025 earnings at $11.47 EPS, Q1 2026 earnings at $2.84 EPS and FY2026 earnings at $12.27 EPS.

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

Several other equities analysts have also recently issued reports on BIO. Royal Bank of Canada reduced their target price on Bio-Rad Laboratories from $484.00 to $480.00 and set an "outperform" rating on the stock in a research note on Friday, February 16th. StockNews.com cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, April 5th. UBS Group upped their price target on Bio-Rad Laboratories from $395.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. Finally, Citigroup cut Bio-Rad Laboratories from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $400.00 to $365.00 in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bio-Rad Laboratories has an average rating of "Moderate Buy" and an average target price of $468.00.

Bio-Rad Laboratories Trading Down 2.5 %

Shares of BIO traded down $7.56 during mid-day trading on Tuesday, hitting $292.85. 199,570 shares of the company's stock traded hands, compared to its average volume of 199,134. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. Bio-Rad Laboratories has a 1 year low of $261.59 and a 1 year high of $489.36. The firm has a market capitalization of $8.35 billion, a P/E ratio of -13.63 and a beta of 0.87. The business's 50-day moving average price is $332.35 and its 200-day moving average price is $321.22.

Institutional Investors Weigh In On Bio-Rad Laboratories

Several hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at $27,000. Farther Finance Advisors LLC lifted its holdings in shares of 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 in the last quarter. Sound Income Strategies LLC bought a new position in shares of Bio-Rad Laboratories during the first quarter valued at $38,000. Gladius Capital Management LP lifted its holdings in shares of Bio-Rad Laboratories by 65.8% during the fourth quarter. Gladius Capital Management LP now owns 121 shares of the medical research company's stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at $41,000. 65.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bio-Rad Laboratories news, EVP Michael Crowley sold 3,000 shares of the business's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total value of $1,008,000.00. Following the sale, the executive vice president now directly owns 6,942 shares of the company's stock, valued at $2,332,512. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.50% 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.