Bio-Rad Laboratories, Inc. (BIO) Reaches New 1-Year High on Earnings Beat

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) reached a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $253.90 and last traded at $0.00, with a volume of shares traded. The medical research company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.37. The company had revenue of $535.00 million for the quarter, compared to analyst estimates of $507.99 million. Bio-Rad Laboratories had a return on equity of 3.49% and a net margin of 1.15%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS.

A number of research analysts have weighed in on the company. TheStreet lowered Bio-Rad Laboratories from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and issued a $275.00 price objective on shares of Bio-Rad Laboratories in a report on Friday, July 14th. Wells Fargo & Company assumed coverage on Bio-Rad Laboratories in a report on Thursday, July 13th. They set an “outperform” rating and a $250.00 price target on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $255.00 price target on shares of Bio-Rad Laboratories in a report on Monday, September 18th. Finally, Zacks Investment Research upgraded Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $260.00.

In other news, EVP Michael Crowley sold 700 shares of Bio-Rad Laboratories stock in a transaction on Friday, August 11th. The stock was sold at an average price of $215.91, for a total transaction of $151,137.00. Following the transaction, the executive vice president now owns 2,060 shares in the company, valued at approximately $444,774.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 28.29% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Bio-Rad Laboratories by 0.3% during the 2nd quarter. BlackRock Inc. now owns 1,738,431 shares of the medical research company’s stock worth $393,424,000 after acquiring an additional 5,320 shares during the period. Vanguard Group Inc. raised its holdings in shares of Bio-Rad Laboratories by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,679,405 shares of the medical research company’s stock worth $380,067,000 after acquiring an additional 6,131 shares during the period. FMR LLC raised its holdings in shares of Bio-Rad Laboratories by 237.4% during the 2nd quarter. FMR LLC now owns 711,313 shares of the medical research company’s stock worth $160,978,000 after acquiring an additional 500,513 shares during the period. TimesSquare Capital Management LLC raised its holdings in shares of Bio-Rad Laboratories by 1.6% during the 2nd quarter. TimesSquare Capital Management LLC now owns 621,650 shares of the medical research company’s stock worth $140,686,000 after acquiring an additional 9,950 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of Bio-Rad Laboratories during the 3rd quarter worth $125,820,000. Institutional investors and hedge funds own 62.59% of the company’s stock.

The company has a debt-to-equity ratio of 0.15, a current ratio of 4.01 and a quick ratio of 2.74. The stock has a market cap of $7,747.70, a price-to-earnings ratio of 82.99, a P/E/G ratio of 3.97 and a beta of 0.88.

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Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.

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