Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) – Stock analysts at Zacks Research decreased their FY2023 earnings per share (EPS) estimates for shares of Bio-Rad Laboratories in a note issued to investors on Thursday, June 22nd. Zacks Research analyst M. Mondal now anticipates that the medical research company will post earnings per share of $13.83 for the year, down from their prior estimate of $14.44. The consensus estimate for Bio-Rad Laboratories’ current full-year earnings is $14.12 per share. Zacks Research also issued estimates for Bio-Rad Laboratories’ Q4 2023 earnings at $4.35 EPS, Q1 2024 earnings at $3.53 EPS, Q2 2024 earnings at $3.46 EPS, Q3 2024 earnings at $4.37 EPS, FY2024 earnings at $16.28 EPS, Q1 2025 earnings at $4.79 EPS and FY2025 earnings at $17.73 EPS.
Bio-Rad Laboratories (NYSE:BIO – Get Rating) last issued its earnings results on Thursday, May 4th. The medical research company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.24 by $0.10. Bio-Rad Laboratories had a positive return on equity of 4.10% and a negative net margin of 7.01%. The company had revenue of $676.80 million during the quarter, compared to the consensus estimate of $689.28 million. During the same period last year, the business posted $4.94 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year.
Bio-Rad Laboratories Stock Performance
BIO opened at $365.80 on Friday. Bio-Rad Laboratories has a 1-year low of $344.63 and a 1-year high of $572.70. The company has a market cap of $10.83 billion, a price-to-earnings ratio of -55.93 and a beta of 0.91. The company’s fifty day moving average price is $397.91 and its two-hundred day moving average price is $436.50. The company has a current ratio of 5.56, a quick ratio of 4.28 and a debt-to-equity ratio of 0.12.
Institutional Trading of Bio-Rad Laboratories
Institutional investors have recently added to or reduced their stakes in the business. Prelude Capital Management LLC boosted its stake in shares of Bio-Rad Laboratories by 3.5% during the first quarter. Prelude Capital Management LLC now owns 14,516 shares of the medical research company’s stock valued at $6,953,000 after purchasing an additional 486 shares during the period. ProShare Advisors LLC boosted its position in Bio-Rad Laboratories by 16.9% during the 1st quarter. ProShare Advisors LLC now owns 3,402 shares of the medical research company’s stock valued at $1,630,000 after buying an additional 493 shares during the period. Brandywine Global Investment Management LLC bought a new stake in Bio-Rad Laboratories in the 1st quarter worth $7,546,000. Toroso Investments LLC raised its stake in shares of Bio-Rad Laboratories by 42.9% during the first quarter. Toroso Investments LLC now owns 1,952 shares of the medical research company’s stock valued at $935,000 after acquiring an additional 586 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Bio-Rad Laboratories by 138.2% during the first quarter. Raleigh Capital Management Inc. now owns 81 shares of the medical research company’s stock worth $39,000 after purchasing an additional 47 shares during the period. 64.11% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Bio-Rad Laboratories
In related news, EVP Michael Crowley sold 500 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $379.39, for a total value of $189,695.00. Following the transaction, the executive vice president now directly owns 6,040 shares in the company, valued at $2,291,515.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Ajit Ramalingam sold 198 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $368.30, for a total value of $72,923.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Crowley sold 500 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $379.39, for a total value of $189,695.00. Following the transaction, the executive vice president now directly owns 6,040 shares in the company, valued at $2,291,515.60. The disclosure for this sale can be found here. 17.06% of the stock is owned by corporate insiders.
About Bio-Rad Laboratories
Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.
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