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

Bio-Rad Laboratories (NYSE:BIO) announced its quarterly earnings results on Thursday. The medical research company reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.39, MarketWatch Earnings reports. The company had revenue of $536.88 million during the quarter, compared to the consensus estimate of $526.80 million. Bio-Rad Laboratories had a return on equity of 3.92% and a net margin of 84.89%.

Shares of Bio-Rad Laboratories stock traded down $10.71 on Friday, hitting $524.89. The stock had a trading volume of 299,864 shares, compared to its average volume of 176,539. Bio-Rad Laboratories has a 52-week low of $307.39 and a 52-week high of $540.06. The company has a current ratio of 2.40, a quick ratio of 1.76 and a debt-to-equity ratio of 0.03. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of 8.14 and a beta of 1.08. The company’s 50 day moving average price is $474.38 and its 200 day moving average price is $419.24.

A number of analysts have issued reports on BIO shares. Wells Fargo & Co lifted their price target on Bio-Rad Laboratories from $525.00 to $590.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup boosted their target price on Bio-Rad Laboratories from $525.00 to $625.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $511.25.

In related news, EVP Michael Crowley sold 1,500 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $485.40, for a total value of $728,100.00. Following the transaction, the executive vice president now owns 2,310 shares in the company, valued at approximately $1,121,274. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ronald W. Hutton sold 443 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $457.35, for a total value of $202,606.05. The disclosure for this sale can be found here. 27.50% of the stock is currently owned by insiders.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

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Earnings History for Bio-Rad Laboratories (NYSE:BIO)

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