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Bio-Rad Laboratories (BIO) Dips More Than Broader Markets: What You Should Know
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Bio-Rad Laboratories (BIO - Free Report) closed the most recent trading day at $364.38, moving -0.37% from the previous trading session. This move lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Prior to today's trading, shares of the maker of instruments used in biomedical research had lost 3.69% over the past month. This has lagged the Medical sector's gain of 2.28% and the S&P 500's gain of 4.22% in that time.
Bio-Rad Laboratories will be looking to display strength as it nears its next earnings release. On that day, Bio-Rad Laboratories is projected to report earnings of $2.59 per share, which would represent a year-over-year decline of 23.37%. Our most recent consensus estimate is calling for quarterly revenue of $688.15 million, down 0.43% from the year-ago period.
BIO's full-year Zacks Consensus Estimates are calling for earnings of $13.82 per share and revenue of $2.9 billion. These results would represent year-over-year changes of -4.16% and +3.42%, respectively.
Investors should also note any recent changes to analyst estimates for Bio-Rad Laboratories. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 2.16% lower. Bio-Rad Laboratories is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Bio-Rad Laboratories is currently trading at a Forward P/E ratio of 26.48. This represents a premium compared to its industry's average Forward P/E of 24.49.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Bio-Rad Laboratories (BIO) Dips More Than Broader Markets: What You Should Know
Bio-Rad Laboratories (BIO - Free Report) closed the most recent trading day at $364.38, moving -0.37% from the previous trading session. This move lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Prior to today's trading, shares of the maker of instruments used in biomedical research had lost 3.69% over the past month. This has lagged the Medical sector's gain of 2.28% and the S&P 500's gain of 4.22% in that time.
Bio-Rad Laboratories will be looking to display strength as it nears its next earnings release. On that day, Bio-Rad Laboratories is projected to report earnings of $2.59 per share, which would represent a year-over-year decline of 23.37%. Our most recent consensus estimate is calling for quarterly revenue of $688.15 million, down 0.43% from the year-ago period.
BIO's full-year Zacks Consensus Estimates are calling for earnings of $13.82 per share and revenue of $2.9 billion. These results would represent year-over-year changes of -4.16% and +3.42%, respectively.
Investors should also note any recent changes to analyst estimates for Bio-Rad Laboratories. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 2.16% lower. Bio-Rad Laboratories is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Bio-Rad Laboratories is currently trading at a Forward P/E ratio of 26.48. This represents a premium compared to its industry's average Forward P/E of 24.49.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.