Wall Street brokerages expect Bio-Rad Laboratories, Inc. (NYSE:BIO) to post earnings of $1.28 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Bio-Rad Laboratories’ earnings, with the lowest EPS estimate coming in at $1.19 and the highest estimate coming in at $1.33. Bio-Rad Laboratories reported earnings of $1.25 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.4%. The firm is scheduled to report its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Bio-Rad Laboratories will report full year earnings of $2.69 per share for the current year. For the next financial year, analysts anticipate that the business will report earnings of $5.09 per share, with EPS estimates ranging from $4.75 to $5.76. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Bio-Rad Laboratories.

A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of Bio-Rad Laboratories from a “hold” rating to a “strong-buy” rating and set a $291.00 target price for the company in a research report on Wednesday, December 13th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $290.00 target price (up previously from $250.00) on shares of Bio-Rad Laboratories in a research report on Wednesday, November 29th. Finally, TheStreet raised shares of Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Bio-Rad Laboratories has an average rating of “Buy” and a consensus price target of $277.75.

Bio-Rad Laboratories (NYSE BIO) traded down $7.11 during trading hours on Wednesday, reaching $247.23. 188,493 shares of the company’s stock were exchanged, compared to its average volume of 163,966. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.77 and a current ratio of 4.06. Bio-Rad Laboratories has a fifty-two week low of $186.98 and a fifty-two week high of $273.87. The company has a market cap of $8,920.00, a P/E ratio of 312.50, a PEG ratio of 2.00 and a beta of 0.97.

Bio-Rad Laboratories announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 28th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, EVP Michael Crowley sold 1,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $258.39, for a total transaction of $258,390.00. Following the completion of the sale, the executive vice president now owns 2,492 shares of the company’s stock, valued at approximately $643,907.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James R. Stark sold 746 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $270.51, for a total transaction of $201,800.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,126 shares of company stock valued at $2,309,426. Insiders own 28.29% of the company’s stock.

Several hedge funds have recently modified their holdings of BIO. First Manhattan Co. lifted its stake in shares of Bio-Rad Laboratories by 71.6% during the 3rd quarter. First Manhattan Co. now owns 599 shares of the medical research company’s stock valued at $133,000 after buying an additional 250 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Bio-Rad Laboratories by 3,333.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 618 shares of the medical research company’s stock valued at $137,000 after buying an additional 600 shares in the last quarter. Timber Hill LLC purchased a new stake in shares of Bio-Rad Laboratories during the 3rd quarter valued at about $214,000. Advisor Group Inc. raised its position in shares of Bio-Rad Laboratories by 17.8% during the 2nd quarter. Advisor Group Inc. now owns 952 shares of the medical research company’s stock valued at $216,000 after buying an additional 144 shares in the last quarter. Finally, Flinton Capital Management LLC grew its holdings in Bio-Rad Laboratories by 70.0% during the 2nd quarter. Flinton Capital Management LLC now owns 1,088 shares of the medical research company’s stock valued at $246,000 after purchasing an additional 448 shares during the last quarter. 63.72% of the stock is owned by hedge funds and other institutional investors.

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About Bio-Rad Laboratories

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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