Bio-Rad Laboratories (NYSE:BIO) Announces Earnings Results

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

Bio-Rad Laboratories Price Performance

BIO traded down $6.69 during trading on Wednesday, reaching $273.22. The company’s stock had a trading volume of 81,579 shares, compared to its average volume of 204,493. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $316.40 and a two-hundred day simple moving average of $314.26. The company has a market cap of $7.79 billion, a price-to-earnings ratio of -12.72 and a beta of 0.94. Bio-Rad Laboratories has a 1 year low of $261.59 and a 1 year high of $431.79.

Analyst Ratings Changes

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

Insider Activity at Bio-Rad Laboratories

In other news, EVP Michael Crowley sold 3,000 shares of Bio-Rad Laboratories stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the transaction, the executive vice president now owns 6,942 shares in the company, valued at approximately $2,332,512. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.50% of the company’s stock.

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. 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.