Bio-Rad Laboratories (NYSE:BIO) Releases Earnings Results, Misses Estimates By $0.12 EPS

Bio-Rad Laboratories (NYSE:BIO) issued its quarterly earnings results on Thursday. The medical research company reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.12), Bloomberg Earnings reports. The business had revenue of $624.43 million for the quarter, compared to analyst estimates of $636.50 million. Bio-Rad Laboratories had a net margin of 16.14% and a return on equity of 4.30%. Bio-Rad Laboratories updated its FY 2020
After-Hours guidance to EPS.

BIO stock traded up $24.29 during trading hours on Friday, hitting $403.63. 505,495 shares of the stock traded hands, compared to its average volume of 157,122. The stock has a 50-day simple moving average of $372.68 and a 200 day simple moving average of $351.31. Bio-Rad Laboratories has a one year low of $260.37 and a one year high of $391.22. The company has a market cap of $11.07 billion, a P/E ratio of 33.52, a P/E/G ratio of 2.77 and a beta of 1.16. The company has a current ratio of 4.72, a quick ratio of 3.36 and a debt-to-equity ratio of 0.12.

A number of research analysts have recently commented on BIO shares. Wells Fargo & Co raised their price target on Bio-Rad Laboratories from $430.00 to $440.00 and gave the company an “overweight” rating in a report on Friday. Citigroup started coverage on Bio-Rad Laboratories in a report on Monday, January 6th. They set a “buy” rating and a $450.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Bio-Rad Laboratories currently has a consensus rating of “Buy” and an average price target of $400.83.

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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