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Bio-Rad Laboratories (BIO) Gains As Market Dips: What You Should Know
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Bio-Rad Laboratories (BIO - Free Report) closed the most recent trading day at $476.83, moving +1.02% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Prior to today's trading, shares of the maker of instruments used in biomedical research had lost 4.17% over the past month. This has lagged the Medical sector's gain of 6.85% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Bio-Rad Laboratories as it approaches its next earnings release. The company is expected to report EPS of $3.24, down 34.41% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $674.18 million, down 3.7% from the prior-year quarter.
BIO's full-year Zacks Consensus Estimates are calling for earnings of $15.91 per share and revenue of $2.95 billion. These results would represent year-over-year changes of +10.33% and +5.17%, respectively.
Any recent changes to analyst estimates for Bio-Rad Laboratories should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Bio-Rad Laboratories is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Bio-Rad Laboratories currently has a Forward P/E ratio of 29.68. This represents a premium compared to its industry's average Forward P/E of 22.35.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BIO in the coming trading sessions, be sure to utilize Zacks.com.
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Bio-Rad Laboratories (BIO) Gains As Market Dips: What You Should Know
Bio-Rad Laboratories (BIO - Free Report) closed the most recent trading day at $476.83, moving +1.02% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Prior to today's trading, shares of the maker of instruments used in biomedical research had lost 4.17% over the past month. This has lagged the Medical sector's gain of 6.85% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Bio-Rad Laboratories as it approaches its next earnings release. The company is expected to report EPS of $3.24, down 34.41% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $674.18 million, down 3.7% from the prior-year quarter.
BIO's full-year Zacks Consensus Estimates are calling for earnings of $15.91 per share and revenue of $2.95 billion. These results would represent year-over-year changes of +10.33% and +5.17%, respectively.
Any recent changes to analyst estimates for Bio-Rad Laboratories should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Bio-Rad Laboratories is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Bio-Rad Laboratories currently has a Forward P/E ratio of 29.68. This represents a premium compared to its industry's average Forward P/E of 22.35.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BIO in the coming trading sessions, be sure to utilize Zacks.com.