Jefferies Financial Group Research Analysts Decrease Earnings Estimates for Bio-Rad Laboratories, Inc. (BIO)
Bio-Rad Laboratories, Inc. (NYSE:BIO) – Investment analysts at Jefferies Financial Group dropped their Q1 2019 earnings per share estimates for shares of Bio-Rad Laboratories in a research report issued to clients and investors on Monday, September 24th. Jefferies Financial Group analyst B. Couillard now forecasts that the medical research company will post earnings of $1.76 per share for the quarter, down from their prior forecast of $1.78. Jefferies Financial Group currently has a “Buy” rating and a $420.00 target price on the stock. Jefferies Financial Group also issued estimates for Bio-Rad Laboratories’ FY2020 earnings at $9.55 EPS.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Tuesday, August 7th. The medical research company reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.37. The company had revenue of $575.91 million for the quarter, compared to the consensus estimate of $551.05 million. Bio-Rad Laboratories had a return on equity of 4.23% and a net margin of 44.77%.
Shares of BIO opened at $312.34 on Wednesday. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 76.23, a P/E/G ratio of 3.24 and a beta of 0.95. Bio-Rad Laboratories has a 12 month low of $214.44 and a 12 month high of $345.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.17 and a current ratio of 4.50.
A number of institutional investors and hedge funds have recently made changes to their positions in BIO. Royal London Asset Management Ltd. bought a new position in shares of Bio-Rad Laboratories in the 2nd quarter worth about $3,377,000. Public Employees Retirement System of Ohio raised its position in shares of Bio-Rad Laboratories by 1.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,631 shares of the medical research company’s stock worth $3,933,000 after acquiring an additional 246 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Bio-Rad Laboratories by 2.8% in the 2nd quarter. California Public Employees Retirement System now owns 53,249 shares of the medical research company’s stock worth $15,364,000 after acquiring an additional 1,450 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Bio-Rad Laboratories in the 2nd quarter worth about $898,000. Finally, Paloma Partners Management Co raised its position in shares of Bio-Rad Laboratories by 233.6% in the 2nd quarter. Paloma Partners Management Co now owns 9,080 shares of the medical research company’s stock worth $2,620,000 after acquiring an additional 6,358 shares in the last quarter. 63.18% of the stock is currently owned by hedge funds and other institutional investors.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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