Bio-Rad Laboratories, Inc. (BIO) Expected to Post Quarterly Sales of $610.65 Million

Wall Street analysts expect that Bio-Rad Laboratories, Inc. (NYSE:BIO) will announce $610.65 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Bio-Rad Laboratories’ earnings, with the lowest sales estimate coming in at $599.00 million and the highest estimate coming in at $622.30 million. Bio-Rad Laboratories posted sales of $620.43 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.6%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Bio-Rad Laboratories will report full-year sales of $2.88 billion for the current financial year, with estimates ranging from $2.27 billion to $4.06 billion. For the next year, analysts forecast that the business will report sales of $2.50 billion, with estimates ranging from $2.33 billion to $2.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Bio-Rad Laboratories.

Bio-Rad Laboratories (NYSE:BIO) last announced its earnings results on Thursday, November 1st. The medical research company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.25). The firm had revenue of $545.10 million during the quarter, compared to analysts’ expectations of $541.23 million. Bio-Rad Laboratories had a net margin of 55.13% and a return on equity of 3.72%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS.

Several equities analysts have commented on the stock. Barclays assumed coverage on shares of Bio-Rad Laboratories in a research note on Wednesday, September 5th. They issued an “equal weight” rating and a $345.00 price target for the company. Jefferies Financial Group restated a “buy” rating and issued a $420.00 price target on shares of Bio-Rad Laboratories in a research note on Monday, September 24th. Goldman Sachs Group assumed coverage on shares of Bio-Rad Laboratories in a research note on Wednesday, October 17th. They issued a “buy” rating and a $350.00 price target for the company. Morgan Stanley assumed coverage on shares of Bio-Rad Laboratories in a research note on Thursday, September 20th. They issued an “equal weight” rating and a $335.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $338.43.

Shares of NYSE BIO opened at $274.46 on Monday. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 66.94, a PEG ratio of 3.34 and a beta of 1.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.16 and a current ratio of 4.49. Bio-Rad Laboratories has a 52-week low of $231.00 and a 52-week high of $345.15.

Several large investors have recently bought and sold shares of BIO. Security National Trust Co. acquired a new position in shares of Bio-Rad Laboratories in the third quarter worth $125,000. Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Bio-Rad Laboratories during the third quarter worth $202,000. First Republic Investment Management Inc. acquired a new position in shares of Bio-Rad Laboratories during the third quarter worth $208,000. Regentatlantic Capital LLC acquired a new position in shares of Bio-Rad Laboratories during the third quarter worth $222,000. Finally, We Are One Seven LLC acquired a new position in shares of Bio-Rad Laboratories during the third quarter worth $254,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

Bio-Rad Laboratories Company Profile

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.

Featured Article: What does earnings per share mean?

Get a free copy of the Zacks research report on Bio-Rad Laboratories (BIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Bio-Rad Laboratories (NYSE:BIO)

Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit