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Bio-Rad Laboratories, Inc. (BIO) develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally.
The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components. It operates through two segments, Life Science and Clinical Diagnostics.
The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes. It focuses on selected segments of the life sciences market in proteomics, genomics, biopharmaceutical production, cell biology, and food safety. This segment serves universities and medical schools, industrial research organizations, government agencies, pharmaceutical manufacturers, biotechnology researchers, food producers, and food testing laboratories.
The Clinical Diagnostics segment designs, manufactures, sells, and supports test systems, informatics systems, test kits, and specialized quality controls for clinical laboratories in the diagnostics market. This segment offers reagents, instruments, and software, which address specific niches within the in vitro diagnostics test market. It sells its products to reference laboratories, hospital laboratories, state newborn screening facilities, physicians' office laboratories, transfusion laboratories, and insurance and forensic testing laboratories.
On February 13th, Bio-Rad reported Quarter December 2019 earnings of $2.32 per share on revenue of $624.4 million. Revenue grew 1.1% on a year-over-year basis.
The company said it expects 2020 revenue of $2.42 billion to $2.43 billion. The current consensus estimate is revenue of $2.42 billion for the year ending December 31, 2020.
Yesterday after market closed, the company announced a laboratory test for Covid-19. This is a laboratory performed test and is not a kit. This should send the shares higher today. This news has not been distributed widely.
Entry Point: $325.00
Trading Range: $281.66 to $413.02
Stop Loss: $310.00
Target Price: $356.00
BIO closed at $363.25.
