News coverage about Bio-Rad Laboratories (NYSE:BIO) has trended positive on Tuesday, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Bio-Rad Laboratories earned a coverage optimism score of 0.25 on Accern’s scale. Accern also gave news headlines about the medical research company an impact score of 46.0313388410746 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern Sentiment’s scoring:
- Financial Survey: Cardiovascular Systems (CSII) vs. Bio-Rad Laboratories (BIO) (americanbankingnews.com)
- $617.23 Million in Sales Expected for Bio-Rad Laboratories, Inc. (BIO) This Quarter (americanbankingnews.com)
- Latin America Immunohistochemistry Market – Positive Growth outlook 2016-21 (emailwire.com)
- Brokerages Anticipate Bio-Rad Laboratories, Inc. (BIO) to Announce $1.27 Earnings Per Share (americanbankingnews.com)
Several brokerages have recently issued reports on BIO. Wells Fargo & Co reaffirmed an “outperform” rating and set a $290.00 price target (up previously from $250.00) on shares of Bio-Rad Laboratories in a research note on Wednesday, November 29th. Zacks Investment Research raised Bio-Rad Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. TheStreet upgraded Bio-Rad Laboratories from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $255.00 price objective on shares of Bio-Rad Laboratories in a report on Monday, September 18th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $277.75.
Bio-Rad Laboratories (NYSE:BIO) traded up $2.75 during midday trading on Tuesday, reaching $241.42. The company had a trading volume of 169,473 shares, compared to its average volume of 176,600. The company has a market capitalization of $7,103.54, a P/E ratio of 305.59, a PEG ratio of 3.56 and a beta of 0.97. The company has a quick ratio of 2.77, a current ratio of 4.06 and a debt-to-equity ratio of 0.15. Bio-Rad Laboratories has a fifty-two week low of $181.87 and a fifty-two week high of $273.87.
Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, November 2nd. The medical research company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.37. The business had revenue of $535.00 million during the quarter, compared to the consensus estimate of $507.99 million. Bio-Rad Laboratories had a return on equity of 3.44% and a net margin of 1.15%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. equities research analysts predict that Bio-Rad Laboratories will post 2.68 EPS for the current year.
Bio-Rad Laboratories announced that its board has approved a share repurchase plan on Tuesday, November 28th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
In other Bio-Rad Laboratories news, VP James R. Stark sold 746 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $270.51, for a total value of $201,800.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christine A. Tsingos sold 4,980 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $249.40, for a total value of $1,242,012.00. Following the completion of the sale, the chief financial officer now owns 7,283 shares of the company’s stock, valued at $1,816,380.20. The disclosure for this sale can be found here. Insiders sold 9,126 shares of company stock valued at $2,309,426 in the last quarter. 28.29% of the stock is currently owned by corporate insiders.
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Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc (Bio-Rad) is a manufacturer and distributor of its life science research and clinical diagnostics products. The Company operates through two segments: Life Science and Clinical Diagnostics. It manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
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