Research Analysts Set Expectations for Bio-Rad Laboratories, Inc.’s Q1 2023 Earnings (NYSE:BIO)

Posted by Defense World Staff on Apr 7th, 2023

Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) – Analysts at Zacks Research issued their Q1 2023 EPS estimates for shares of Bio-Rad Laboratories in a research report issued to clients and investors on Monday, April 3rd. Zacks Research analyst R. Anand forecasts that the medical research company will post earnings of $3.24 per share for the quarter. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $15.91 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ Q2 2023 earnings at $4.25 EPS, Q3 2023 earnings at $3.54 EPS, Q4 2023 earnings at $4.29 EPS, FY2023 earnings at $15.31 EPS, Q1 2024 earnings at $4.48 EPS, Q2 2024 earnings at $4.33 EPS, Q3 2024 earnings at $4.26 EPS, Q4 2024 earnings at $4.82 EPS, FY2024 earnings at $17.88 EPS, Q1 2025 earnings at $4.95 EPS and FY2025 earnings at $17.63 EPS.

BIO has been the subject of a number of other reports. TheStreet upgraded shares of Bio-Rad Laboratories from a “d+” rating to a “c” rating in a research note on Thursday, February 16th. Credit Suisse Group lifted their price objective on shares of Bio-Rad Laboratories from $640.00 to $680.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. Royal Bank of Canada lifted their price objective on shares of Bio-Rad Laboratories from $571.00 to $579.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. Finally, StockNews.com started coverage on shares of Bio-Rad Laboratories in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $664.75.

Bio-Rad Laboratories Stock Up 0.5 %

Bio-Rad Laboratories stock opened at $466.24 on Thursday. Bio-Rad Laboratories has a 1-year low of $344.63 and a 1-year high of $607.54. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of -3.84 and a beta of 0.91. The company has a current ratio of 5.55, a quick ratio of 4.29 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $475.19 and a 200 day simple moving average of $435.63.

Bio-Rad Laboratories (NYSE:BIO – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The medical research company reported $3.31 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.14). The company had revenue of $730.29 million during the quarter, compared to the consensus estimate of $741.01 million. Bio-Rad Laboratories had a positive return on equity of 4.59% and a negative net margin of 129.66%. During the same period last year, the firm posted $3.21 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year.

Institutional Trading of Bio-Rad Laboratories

A number of hedge funds have recently made changes to their positions in BIO. American Century Companies Inc. lifted its holdings in shares of Bio-Rad Laboratories by 14.0% during the 1st quarter. American Century Companies Inc. now owns 1,286 shares of the medical research company’s stock worth $724,000 after acquiring an additional 158 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Bio-Rad Laboratories by 23.0% during the 1st quarter. MetLife Investment Management LLC now owns 5,872 shares of the medical research company’s stock worth $3,307,000 after acquiring an additional 1,097 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Bio-Rad Laboratories by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,891 shares of the medical research company’s stock worth $1,628,000 after acquiring an additional 179 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Bio-Rad Laboratories by 5.5% during the 1st quarter. Raymond James Trust N.A. now owns 501 shares of the medical research company’s stock worth $283,000 after acquiring an additional 26 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Bio-Rad Laboratories by 11.9% during the 1st quarter. Allianz Asset Management GmbH now owns 65,094 shares of the medical research company’s stock worth $36,663,000 after acquiring an additional 6,936 shares during the last quarter. 64.35% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Timothy S. Ernst sold 1,746 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $486.43, for a total transaction of $849,306.78. Following the completion of the transaction, the executive vice president now directly owns 2,671 shares in the company, valued at approximately $1,299,254.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 27.40% of the company’s stock.

Bio-Rad Laboratories Company Profile

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Bio-Rad Laboratories, Inc engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications. It operates through the Life Sciences and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments.