Bio-Rad Laboratories (NYSE:BIO) Releases Quarterly Earnings Results, Beats Estimates By $0.25 EPS

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

Bio-Rad Laboratories Stock Up 0.8 %

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, EVP Michael Crowley sold 3,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were 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 owns 6,942 shares in the company, valued at $2,332,512. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 17.50% of the company’s stock.

Bio-Rad Laboratories Company Profile

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.