$529.50 Million in Sales Expected for Bio-Rad Laboratories (BIO) This Quarter

Equities analysts expect that Bio-Rad Laboratories (NYSE:BIO) will post $529.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bio-Rad Laboratories’ earnings. The lowest sales estimate is $524.50 million and the highest is $534.50 million. Bio-Rad Laboratories reported sales of $500.05 million in the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, May 8th.

On average, analysts expect that Bio-Rad Laboratories will report full-year sales of $2.30 billion for the current year. For the next year, analysts forecast that the firm will post sales of $2.39 billion per share, with estimates ranging from $2.39 billion to $2.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Bio-Rad Laboratories.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data on Tuesday, February 27th. The medical research company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.22. Bio-Rad Laboratories had a net margin of 5.31% and a return on equity of 3.63%. The firm had revenue of $620.43 million during the quarter, compared to analyst estimates of $618.89 million.

A number of equities analysts recently commented on BIO shares. Wells Fargo raised their price objective on shares of Bio-Rad Laboratories from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 20th. Citigroup raised their price objective on shares of Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. CL King lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating in a research note on Friday, February 16th. ValuEngine upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Jefferies Group increased their target price on shares of Bio-Rad Laboratories to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $297.20.

Bio-Rad Laboratories stock opened at $259.48 on Friday. Bio-Rad Laboratories has a 52 week low of $208.95 and a 52 week high of $279.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.93 and a quick ratio of 2.75. The company has a market capitalization of $7,717.15, a P/E ratio of 63.29, a PEG ratio of 3.01 and a beta of 0.94.

A number of hedge funds have recently added to or reduced their stakes in BIO. Tower Research Capital LLC TRC lifted its position in Bio-Rad Laboratories by 297.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 560 shares of the medical research company’s stock worth $134,000 after buying an additional 419 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at $248,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Bio-Rad Laboratories by 42.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,165 shares of the medical research company’s stock valued at $278,000 after purchasing an additional 350 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Bio-Rad Laboratories by 218.6% during the 4th quarter. Advisory Services Network LLC now owns 1,217 shares of the medical research company’s stock valued at $290,000 after purchasing an additional 835 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Bio-Rad Laboratories during the 4th quarter valued at $329,000. Institutional investors own 64.39% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and supplies products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components for life science research, healthcare, analytical chemistry, and other markets. The company operates through two segments, Life Science and Clinical Diagnostics.

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

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.



Leave a Reply