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Bio-Rad Laboratories on the Street: Analysts’ Recommendations in May

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Bio-Rad’s financial performance in 1Q17

In 1Q17, Bio-Rad Laboratories (BIO) reported revenues of ~$500.1 million, which represented a YoY (year-over-year) rise of around 6.1%. Aside from organic revenue growth, a small portion of the company’s 1Q17 performance was attributed to the acquisition of RainDance Technologies, which was announced on January 16, 2017. Excluding the impact of unfavorable foreign currency fluctuations, the company has reported YoY revenue growth of around 6.7%.

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Bio-Rad also reported $9.0 million in pull forward revenues in 1Q17, as the company had anticipated that its SAP (systems applications products) system would be deployed in Europe in the quarter. Excluding the impact of the acquisition and revenue pull forward, Bio-Rad Laboratories reported a 4.4% YoY revenue growth in 1Q17.

Analysts’ recommendations for Bio-Rad

Of the three analysts covering Bio-Rad Laboratories in May 2017, only one has rated the company a “strong buy,” while one has rated it a “buy.” One analyst has rated Bio-Rad stock a “hold,” but none has rated it a “sell” or a “strong sell.” Approximately 66% of the analysts have given the company some form of “buy” recommendation.

Peer ratings

By comparison, of the 17 analysts covering PerkinElmer (PKI) in May 2017, ~29% have rated the stock a “buy.” Approximately 89% of the 19 analysts covering Danaher (DHR) have given the stock a “buy” recommendation this month. Meanwhile, 89% of the 18 analysts covering Thermo Fisher Scientific (TMO) have rated the company a “buy” in May 2017.

Notably, the iShares Core S&P Mid-Cap ETF (IJH) has about 0.28% of its total portfolio in Bio-Rad Laboratories.

In the next part of this series, we’ll discuss Bio-Rad Laboratories’ revenue projections in greater detail.

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