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Bio-Rad Laboratories (BIO) Stock Sinks As Market Gains: What You Should Know
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Bio-Rad Laboratories (BIO - Free Report) closed the most recent trading day at $479.16, moving -0.49% from the previous trading session. This move lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 2.51%.
Prior to today's trading, shares of the maker of instruments used in biomedical research had gained 2.99% over the past month. This has lagged the Medical sector's gain of 6.47% and the S&P 500's gain of 6.17% in that time.
Wall Street will be looking for positivity from Bio-Rad Laboratories as it approaches its next earnings report date. This is expected to be May 4, 2023. The company is expected to report EPS of $3.24, down 34.41% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $674.18 million, down 3.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.91 per share and revenue of $2.95 billion, which would represent changes of +10.33% and +5.17%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bio-Rad Laboratories. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Bio-Rad Laboratories is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Bio-Rad Laboratories has a Forward P/E ratio of 30.27 right now. For comparison, its industry has an average Forward P/E of 22.94, which means Bio-Rad Laboratories is trading at a premium to the group.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bio-Rad Laboratories (BIO) Stock Sinks As Market Gains: What You Should Know
Bio-Rad Laboratories (BIO - Free Report) closed the most recent trading day at $479.16, moving -0.49% from the previous trading session. This move lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 2.51%.
Prior to today's trading, shares of the maker of instruments used in biomedical research had gained 2.99% over the past month. This has lagged the Medical sector's gain of 6.47% and the S&P 500's gain of 6.17% in that time.
Wall Street will be looking for positivity from Bio-Rad Laboratories as it approaches its next earnings report date. This is expected to be May 4, 2023. The company is expected to report EPS of $3.24, down 34.41% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $674.18 million, down 3.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.91 per share and revenue of $2.95 billion, which would represent changes of +10.33% and +5.17%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bio-Rad Laboratories. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Bio-Rad Laboratories is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Bio-Rad Laboratories has a Forward P/E ratio of 30.27 right now. For comparison, its industry has an average Forward P/E of 22.94, which means Bio-Rad Laboratories is trading at a premium to the group.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.