Stock in Wall Street Spotlight: Bio-Rad Laboratories, Inc. (NYSE: BIO)

On 21 Nov 2019, Bio-Rad Laboratories, Inc. (NYSE: BIO) spotted trading -1.59% off 52-week high price. On the other end, the stock has been noted 63.69% away from the low price over the last 52-weeks. The stock changed -0.72% to recent value of $360.21. The stock transacted 226399 shares during most recent day however it has an average volume of 208.05K shares. The company has 29.69M of outstanding shares and 21.5M shares were floated in the market.

Bio-Rad Laboratories, Inc. (BIO) recently reported financial results for the third quarter ended September 30, 2019.

Third-quarter 2019 net sales were $560.6M, a raise of 2.8 percent contrast to $545.1M stated for the third quarter of 2018. On a currency-neutral basis, quarterly sales increased 4.5 percent contrast to the same period in 2018, reflecting growth across the business. Third-quarter gross margin was 54.8 percent contrast to 52.6 percent during the third quarter in 2018.

Life Science section net sales for the third quarter were $215.7M, a raise of 4.5 percent contrast to the same period in 2018. On a currency-neutral basis, Life Science section sales increased by 5.7 percent contrast to the same quarter in 2018. Currency-neutral sales reflect growth of multiple product lines in the section, driven by double-digit growth in Droplet Digital PCR and Food Safety products as well as good demand within Gene Expression and Western Blotting product lines. Sales during the third quarter of 2019 increased across all regions: the Americas, Europe and Asia.

Clinical Diagnostics section net sales for the third quarter were $341.8M, a raise of 2.4 percent contrast to the same period in 2018. On a currency-neutral basis, net sales were up 4.3 percent contrast to the same quarter last year. Currency-neutral sales from the third quarter reflected growth in Quality Control, Blood Typing, and Immunology product lines. On a geographic view, sales increased mainly in Asia and the Americas.

Third-quarter 2019 operating income was $57.5M versus 2018 third-quarter operating income of $36.3M.

Stated net income for the third quarter of 2019 was a net loss of $258.8M, or ($8.68) per share on a diluted basis. This loss was negatively influenced by a decline of $390.6M in the market value of equity securities that we hold, primarily related to our investment in Sartorius AG. Net income for the third quarter of 2018 was a net gain of $269.3M, or $8.89 per share on a diluted basis, which included a gain of $318.0M related to our investment holdings.

2019 Financial Outlook

For the full year 2019, the company is projecting currency-neutral revenue growth outlook of 4.0 to 4.5 percent with an estimated non-GAAP operating margin of 12.5 to 13.0 percent.

“As we head into the end of the year, we anticipate 2019 will be another year of growth in many of our key product areas, with broad contribution from most of our major geographies,” Mr. Schwartz stated. “Our operating performance has rebounded nicely so far in 2019 and we expect more of the same for the remainder of the year, reflecting substantial improvement in operating profit over 2018.”

Its earnings per share (EPS) expected to touch remained 502.10% for this year while earning per share for the next 5-years is expected to reach at 19.60%. BIO has a gross margin of 54.80% and an operating margin of -2.60% while its profit margin remained 16.30% for the last 12 months.   According to the most recent quarter its current ratio was 4.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of 3.11% from the mean of 20 days, 5.46% from mean of 50 days SMA and performed 14.53% from mean of 200 days price. Company’s performance for the week was 1.72%, 3.37% for month and YTD performance remained 55.12%.

 

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