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Bio-Rad Laboratories (BIO) Gains But Lags Market: What You Should Know
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Bio-Rad Laboratories (BIO - Free Report) closed at $372.36 in the latest trading session, marking a +0.27% move from the prior day. This move lagged the S&P 500's daily gain of 1.45%. Meanwhile, the Dow gained 2.12%, and the Nasdaq, a tech-heavy index, added 5.41%.
Coming into today, shares of the maker of instruments used in biomedical research had lost 19.73% in the past month. In that same time, the Medical sector lost 3.5%, while the S&P 500 gained 1.53%.
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 $2.90, down 14.2% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $696.05 million, up 0.72% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.12 per share and revenue of $2.91 billion, which would represent changes of -2.08% and +3.8%, respectively, from the prior year.
Any recent changes to analyst estimates for Bio-Rad Laboratories should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 11.2% lower. Bio-Rad Laboratories currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Bio-Rad Laboratories is currently trading at a Forward P/E ratio of 26.3. For comparison, its industry has an average Forward P/E of 22.79, 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 57, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Bio-Rad Laboratories (BIO) Gains But Lags Market: What You Should Know
Bio-Rad Laboratories (BIO - Free Report) closed at $372.36 in the latest trading session, marking a +0.27% move from the prior day. This move lagged the S&P 500's daily gain of 1.45%. Meanwhile, the Dow gained 2.12%, and the Nasdaq, a tech-heavy index, added 5.41%.
Coming into today, shares of the maker of instruments used in biomedical research had lost 19.73% in the past month. In that same time, the Medical sector lost 3.5%, while the S&P 500 gained 1.53%.
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 $2.90, down 14.2% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $696.05 million, up 0.72% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.12 per share and revenue of $2.91 billion, which would represent changes of -2.08% and +3.8%, respectively, from the prior year.
Any recent changes to analyst estimates for Bio-Rad Laboratories should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 11.2% lower. Bio-Rad Laboratories currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Bio-Rad Laboratories is currently trading at a Forward P/E ratio of 26.3. For comparison, its industry has an average Forward P/E of 22.79, 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 57, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.