Bio-Rad Laboratories (NYSE:BIO) Announces Earnings Results

Bio-Rad Laboratories (NYSE:BIO) announced its quarterly earnings data on Tuesday. The medical research company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.25, Briefing.com reports. Bio-Rad Laboratories had a negative net margin of 23.86% and a positive return on equity of 3.90%. The business had revenue of $610.82 million during the quarter, compared to analyst estimates of $619.09 million. During the same quarter in the prior year, the business earned $3.34 earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis.

Bio-Rad Laboratories Stock Performance

Shares of NYSE:BIO traded up $2.29 during trading on Friday, hitting $279.60. The company’s stock had a trading volume of 59,837 shares, compared to its average volume of 204,995. The company has a 50-day moving average of $314.19 and a 200-day moving average of $313.69. Bio-Rad Laboratories has a 12 month low of $261.59 and a 12 month high of $431.79. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.83 and a quick ratio of 4.34. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of -12.90 and a beta of 0.94.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BIO shares. UBS Group reduced their price objective on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada reduced their target price on shares of Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating for the company in a report on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $461.00.

Insiders Place Their Bets

In related news, EVP Michael Crowley sold 3,000 shares of the firm’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 completion of the sale, the executive vice president now directly owns 6,942 shares in the company, valued at $2,332,512. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 17.50% of the stock is owned by company insiders.

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.