Bio-Rad Laboratories has been witnessing setbacks with its stocks falling
4.3% and a further
14% weekly decline. The three-year loss stands at
53%. Critics suggest that the company's shares may have outrun too fast, leading to potential overvaluation. Internal decisions have seen Bio-Rad's COO selling
$990K in shares while
First Eagle Investment and
Victory Capital Management Inc added significant amounts of Bio-Rad's stocks to their portfolio. Bio-Rad cut its annual revenue forecast due to weak demand for its diagnostic products. However, the company continues to reiterate positive revenue growth outlook for 2024. A recent report from
Zacks Research showed a decrease in earnings estimates for the Bio-Lab company. The company's
Q2 earnings surpassed estimates, but guidance was lowered. Their financial position remains stable allowing them to manage their debt effectively. Recent revelations show that Bio-Rad is set to update its bylaws to allow electronic shareholder meetings. But overall, the company is aware of its need to address weakness in the
biopharma sector and stiff competition. In a significant move, Bio-Rad announced a
$500M share repurchase program, signaling possible confidence in its future.
Bio-Rad Laboratories Stocks News Analytics from Wed, 10 Jul 2019 07:00:00 GMT to Sun, 22 Sep 2024 10:40:04 GMT -
Rating -5
- Innovation 0
- Information 4
- Rumor -6
