Yahoo Finance Bio-Rad Laboratories (BIO) Outpaces Stock Market Gains: What You Should Know
Bio-Rad Laboratories (BIO) closed at $361.03 in the latest trading session, marking a +0.43% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.12%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq lost 4.09%.
Heading into today, shares of the maker of instruments used in biomedical research had lost 1.33% over the past month, outpacing the Medical sector's loss of 2.13% and lagging the S&P 500's gain of 3.98% 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 $2.90, down 14.2% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $696.05 million, up 0.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.12 per share and revenue of $2.91 billion. These totals would mark changes of -2.08% and +3.8%, respectively, from last 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. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 has moved 2.96% lower within the past month. 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 25.46. For comparison, its industry has an average Forward P/E of 22.31, 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 54, putting it in the top 22% 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.
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, Inc. (BIO) : Free Stock Analysis Report