After a series of events, Bio-Rad Laboratories appears to be hitting a rough spot. The stock of the company, falling under the NYSE ticker symbol 'BIO', enters the oversold territory, as shares gap down to $338.55. Despite beating EPS for Q1 2024, Bio-Rad missed the revenue mark, leading to the stock price experiencing a 17.3% decrease.
Even though Q1 earnings surpassed estimations, the margins decreased, and a decline in Q1 sales was reported. Nevertheless, the company sustained its full-year outlook. Some investment firms are responding to the unfavorable circumstances by selling their shares of Bio-Rad.Bio-Rad, however, proceeds to witness global sales, muster test uptake, and maintain a healthy balance sheet.
Bio-Rad Laboratories endures further losses, with the stock undergoing a 14% drop this week, representing an unprofitable three years for investors. Yet, the appointment of Roop Lakkaraju as EVP and CFO, and a $500M share repurchase program may potentially generate a comeback. Nonetheless, analysts currently estimate a decrease in earnings. Even with some asserting that Bio-Rad Laboratories is undervalued by 43%, others have lowered the stock rating and cut their investment positions.
Bio-Rad Laboratories Stocks News Analytics from Wed, 12 Oct 2022 07:00:00 GMT to Wed, 08 May 2024 21:19:45 GMT - Rating -5 - Innovation -2 - Information 7 - Rumor -2
