Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €242, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 20x in the Life Sciences industry in Europe. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €271 per share. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. Director Allison Schwartz was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 17
Bio-Rad Laboratories, Inc. to Report Q1, 2026 Results on Apr 30, 2026 Bio-Rad Laboratories, Inc. announced that they will report Q1, 2026 results After-Market on Apr 30, 2026 Announcement • Mar 27
Bio-Rad Laboratories, Inc., Annual General Meeting, Apr 21, 2026 Bio-Rad Laboratories, Inc., Annual General Meeting, Apr 21, 2026. Location: 1000 alfred nobel drive, california 94547, hercules United States Announcement • Feb 13
Bio-Rad Laboratories, Inc. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2025 Bio-Rad Laboratories, Inc. reported impairment charges for the fourth quarter ended December 31, 2025. For the quarter, the company reported impairment of purchased intangibles and related items of $172.8 million. Announcement • Jan 29
Bio-Rad Laboratories, Inc. to Report Q4, 2025 Results on Feb 12, 2026 Bio-Rad Laboratories, Inc. announced that they will report Q4, 2025 results After-Market on Feb 12, 2026 Announcement • Oct 17
Bio-Rad Laboratories, Inc. to Report Q3, 2025 Results on Oct 29, 2025 Bio-Rad Laboratories, Inc. announced that they will report Q3, 2025 results After-Market on Oct 29, 2025 Announcement • Sep 30
Bio-Rad Laboratories, Inc. Announces Demise of Alice N. Schwartzas, Co-Founder and Director Bio-Rad Laboratories, Inc. announced that Alice N. Schwartz, Bio-Rad’s co-founder and Director Emeritus, passed away on September 25, 2025, at the age of 99. Mrs. Schwartz co-founded Bio-Rad in 1952 in Berkeley, California, together with her husband David Schwartz, shortly after graduating with a biochemistry degree from the University of California, Berkeley. Mrs. Schwartz played a key role in Bio-Rad’s achievements and remained an active Board member until 2022. Her leadership and passion for scientific discovery created a legacy that continues to inspire the company and the broader scientific community. Announcement • Jul 29
Bio-Rad Laboratories, Inc. Appoints Rajat Mehta as Executive Vice President, Global Commercial Operations, Effective August 4, 2025 Bio-Rad Laboratories, Inc. announced the appointment of Rajat Mehta as its new Executive Vice President, Global Commercial Operations, effective August 4, 2025. Mehta will lead Bio-Rad's global commercial strategy and execution, succeeding Mike Crowley, who is retiring after a distinguished 26-year career with the company. Mehta brings extensive leadership and commercial expertise in biopharmaceutical, life science research, and diagnostics markets to Bio-Rad. He joins from Labcorp, where he served as Senior Vice President, overseeing large-scale commercial operations for the company’s West Division. Prior to Labcorp, Mehta was Vice President and General Manager, Applied Technologies, at Thermo Fisher Scientific. In this role, he successfully managed a global business unit serving diverse markets. Earlier in his career, Mehta held commercial roles of increasing responsibility at Dow Chemical, where he designed and executed impactful commercial growth strategies. He holds an MBA from The Wharton School at the University of Pennsylvania and a BS in Electrical Engineering from Kurkshetra University in Thanesar, India. Announcement • Jul 18
Bio-Rad Laboratories, Inc. to Report Q2, 2025 Results on Jul 31, 2025 Bio-Rad Laboratories, Inc. announced that they will report Q2, 2025 results After-Market on Jul 31, 2025 Announcement • Jul 07
Bio-Rad Laboratories, Inc. Announces Launch of Four New Droplet Digital™? PCR (ddPCR™?) Platforms Bio-Rad Laboratories, Inc. announced the launch of four new Droplet Digital™? PCR (ddPCR™?) platforms. The newly introduced instruments include Bio-Rad's QX Continuum™? ddPCR system along with the QX700™? series of ddPCR platforms acquired as part of the company's recently completed acquisition of digital PCR developer Stilla Technologies. Together with Bio-Rad's existing line of QX200™? and QX600™? ddPCR systems, the expanded product portfolio, including over 400,000 assays, offers the most comprehensive line of digital PCR products for life science research and diagnostic applications. The end-to-end solutions feature absolute quantification, high precision, and advanced multiplexing capabilities, combined with streamlined and simplified workflows. The QX Continuum™?dPCR system is designed for translational research applications. It features qPCR-like workflow offering simplicity, performance and flexibility in an all-in-one configuration with four-color multiplexing and up to eight discrete thermal profiles per plate. The QX700™? series consistsof three new ddPCR instruments designed for academic research, environmental testing, cell and gene therapy, and biopharma quality control workflows. The systems enable seven-color multiplexing, capacity to process over 700 samples per day, with minimal input volume, continuous loading capability, and easy-to-use software for streamlined data interpretation. Announcement • Jul 02
An unknown affiliate of Bio-Rad Laboratories, Inc. (NYSE:BIO) completed the acquisition of Stilla Technologies SA. An unknown affiliate of Bio-Rad Laboratories, Inc. (NYSE:BIO) entered into a binding offer to acquire Stilla Technologies SA for approximately $280 million on February 13, 2025. On March 18, 2025, Bio-Rad Laboratories, Inc. (NYSE:BIO) entered into a share purchase agreement to acquire Stilla Technologies SA. Bio-Rad Laboratories will pay approximately $225 million in cash, as well as potential future contingent milestone payments for a maximum amount of up to $50 million. The acquisition remains subject to consultation with relevant employee representatives, regulatory approvals, and other customary closing conditions, and is expected to close by the end of the third quarter of 2025. Anne-Charlotte Rivière, Benhouda Derradji, Marie Fillion and Charles-Henri de Gouvion Saint Cyr of Goodwin Procter (France) LLP, Sarah Jordan, Gretchen Scott and Martin Gomez of Goodwin Procter (Uk) Llp and Martin Gomez and Daniel S Karelitz of Goodwin Procter LLP acted as legal advisor to Stilla Technologies SA and the sellers. Freshfields Bruckhaus Deringer LLP acted as legal advisor to Bio-Rad Laboratories. TD Securities Inc. acted as financial advisor to Stilla Technologies SA.
An unknown affiliate of Bio-Rad Laboratories, Inc. (NYSE:BIO) completed the acquisition of Stilla Technologies SA on June 30, 2025. Announcement • Apr 23
Biodesix, Inc. and Bio-Rad Laboratories, Inc. Submits New Research Findings from Friends of Cancer Research's ctMoniTR Project Biodesix, Inc. and Bio-Rad Laboratories contributed to new research findings from Friends of Cancer Research's ctMoniTR Project, recently published in Clinical Cancer Research (CCR). The findings demonstrate a strong association between changes in levels of circulating tumor DNA (ctDNA) and treatment outcomes, offering the potential for integration of ctDNA analysis in therapeutic development programs, and clinical cancer care. The ctMoniTR Project (ctDNA to Monitor Treatment Response) was designed to determine whether changes in levels of ctDNA predict treatment outcomes for patients. Results from the first phase of the project demonstrated a strong link between changes in ctDNA and overall survival in patients with aNSCLC treated with immune checkpoint inhibitors (published in the Journal of Clinical Oncology). The new data, from the second phase of ctMoniTR, expands the analysis to additional solid tumor types and treatment categories, including patients treated with tyrosine kinase inhibitors. Led by Friends, collaborators included Biodesix alongside organizations from industry, government, academia, and advocacy groups. Biodesix contributed data generated using Bio-Rad Droplet Digital™? PCR (ddPCR™?) technology to detect ctDNA from patient samples. Beyond this specific research project, Biodesix offers ctDNA testing, using ddPCR technology, as part of its Development Services portfolio and is also exploring ctDNA in combination with proteomics to detect molecular residual disease (MRD). The latest advancements in this application will be presented at the American Association for Cancer Research (AACR) Annual Meeting, April 28th, 2025. Announcement • Apr 16
Bio-Rad Laboratories, Inc. to Report Q1, 2025 Results on May 01, 2025 Bio-Rad Laboratories, Inc. announced that they will report Q1, 2025 results After-Market on May 01, 2025 Announcement • Mar 27
Bio-Rad Laboratories, Inc., Annual General Meeting, Apr 22, 2025 Bio-Rad Laboratories, Inc., Annual General Meeting, Apr 22, 2025. Location: 1000 alfred nobel drive, california 94547, hercules, United States Announcement • Feb 14
Bio-Rad Laboratories, Inc. (NYSE:BIO) entered into a binding offer to acquire Stilla Technologies SA. Bio-Rad Laboratories, Inc. (NYSE:BIO) entered into a binding offer to acquire Stilla Technologies SA on February 13, 2025.
The acquisition remains subject to consultation with relevant employee representatives, regulatory approvals, and other customary closing conditions, and is expected to close by the end of the third quarter of 2025. Announcement • Jan 28
Bio-Rad Laboratories, Inc. to Report Q4, 2024 Results on Feb 13, 2025 Bio-Rad Laboratories, Inc. announced that they will report Q4, 2024 results After-Market on Feb 13, 2025 Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$23.37 (vs US$3.65 in 3Q 2023) Third quarter 2024 results: EPS: US$23.37 (up from US$3.65 in 3Q 2023). Revenue: US$649.7m (up 2.8% from 3Q 2023). Net income: US$653.2m (up US$546.9m from 3Q 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Announcement • Oct 15
Bio-Rad Laboratories, Inc. to Report Q3, 2024 Results on Oct 30, 2024 Bio-Rad Laboratories, Inc. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024 Announcement • Aug 20
Bio-Rad Laboratories, Inc. Announces Executive Changes Bio-Rad Laboratories, Inc. announced that Jon DiVincenzo will join the company as President and Chief Operating Officer, effective September 9, 2024, replacing Andy Last, who is retiring. Mr. DiVincenzo joins Bio-Rad from Labcorp Holdings Inc., a global provider of comprehensive laboratory services, where he held various global operational and commercial leadership roles across the company’s several business units. Most recently, he served as Executive Vice President and President, Central Laboratories and International. Prior to LabCorp, Mr. DiVincenzo was President of the Environmental Health Division at PerkinElmer, a global company focused on diagnostics, life science research, food quality, environmental health and industrial testing. He also served as Chief Executive Officer of Enzymatics, a privately held molecular biology reagents company. Prior to that, Mr. DiVincenzo held roles of increasing responsibility in the Biosciences and Lab Water businesses of EMD Millipore, a subsidiary of Merck KGaA. He holds a Bachelor of Science degree in mechanical engineering from Northeastern University. Reported Earnings • Aug 02
Second quarter 2024 earnings released: US$76.26 loss per share (vs US$39.59 loss in 2Q 2023) Second quarter 2024 results: US$76.26 loss per share (further deteriorated from US$39.59 loss in 2Q 2023). Revenue: US$638.5m (down 6.3% from 2Q 2023). Net loss: US$2.17b (loss widened 86% from 2Q 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Announcement • Jul 18
Bio-Rad Laboratories, Inc. to Report Q2, 2024 Results on Aug 01, 2024 Bio-Rad Laboratories, Inc. announced that they will report Q2, 2024 results After-Market on Aug 01, 2024 Announcement • May 31
Bio-Rad Laboratories, Inc. Appoints Anette Engelhardt as Executive Vice President and President of Clinical Diagnostics Group, Effective June 10, 2024 Bio-Rad Laboratories, Inc. announced that Anette Engelhardt will join the company as its new Executive Vice President and President of the Clinical Diagnostics Group, effective June 10, 2024. Ms. Engelhardt joins Bio-Rad from Cepheid, a wholly owned subsidiary of Danaher Corporation and a leading global molecular diagnostics company. While at Cepheid, Ms. Engelhardt was Senior Vice President and General Manager overseeing the emerging growth opportunities business, as well as Senior Vice President of global research and development, strategy, product management and marketing functions supporting the company’s extensive product portfolio. Prior to Cepheid, Ms. Engelhardt held several senior positions at bioMerieux Inc., a global leader in vitro diagnostics, including Senior Vice President of the company’s new technologies franchise and microbiology business unit. In these roles, she was responsible for developing and implementing product and market strategies for bioMerieux’s range of microbiology-related reagents, instruments, and services, as well as leveraging and commercializing new technologies. Ms. Engelhardt’s career also includes tenure as CEO of privately held AB BIODISK, where she managed the in vitro diagnostics company’s post-acquisition integration into bioMerieux. She began her career as a process engineer at AB BIODISK and holds a combined Master of Science and Bachelor of Science degree in Chemical Engineering and Polymer Technology from the Royal Institute of Technology in Stockholm, Sweden. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: US$13.46 (vs US$2.33 in 1Q 2023) First quarter 2024 results: EPS: US$13.46 (up from US$2.33 in 1Q 2023). Revenue: US$610.8m (down 9.8% from 1Q 2023). Net income: US$383.9m (up 457% from 1Q 2023). Profit margin: 63% (up from 10% in 1Q 2023). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. New Risk • May 02
New major risk - Revenue and earnings growth Earnings have declined by 29% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Apr 27
Bio-Rad Laboratories, Inc. Announces Executive Vice President and President Changes, Life Science Group On April 22, 2024, Simon May, the Executive Vice President and President, Life Science Group, of Bio-Rad Laboratories, Inc. and a named executive officer of the Company, notified the Company of his plans to resign from the Company to pursue another opportunity, effective as of May 1, 2024. On April 24, 2024, James J. Barry, currently the Company’s Senior Vice President of Global Manufacturing, was appointed to the position of Executive Vice President and President, Life Science Group, effective May 1, 2024. Mr. Barry succeeds Dr. May in this position. For the past two years, James Barry has been responsible for Bio-Rad’s global manufacturing operations including quality, planning, and continuous improvement initiatives across the organization. Prior to his role within Global Manufacturing, he oversaw Bio-Rad’s Quality Systems Division, which provides third-party independent quality control materials and data management software for hospitals and reference labs globally. Mr. Barry joined Bio-Rad in 2017 from Beckman Coulter where he led sales of the lab automation and genomics portfolio to academic, pharmaceutical, and government customers. He holds a B.S. degree in Mechanical Engineering from Rose Hulman Institute of Technology and an MBA from Pepperdine University. Announcement • Apr 20
Bio-Rad Laboratories, Inc. to Report Q1, 2024 Results on May 07, 2024 Bio-Rad Laboratories, Inc. announced that they will report Q1, 2024 results After-Market on May 07, 2024 Announcement • Apr 11
Bio-Rad Laboratories, Inc. Announces Chief Operating Officer Andrew Last to Retire Bio-Rad Laboratories, Inc. announced that Dr. Andrew Last, Executive Vice President and Chief Operating Officer, is planning to retire by early September of 2024. Dr. Last will remain part of Bio-Rad’s executive leadership team to ensure a smooth transition while the company conducts a search for his successor. Announcement • Mar 28
Bio-Rad Laboratories, Inc., Annual General Meeting, Apr 23, 2024 Bio-Rad Laboratories, Inc., Annual General Meeting, Apr 23, 2024, at 16:00 Pacific Daylight. Location: 1000 Alfred Nobel Drive, Hercules, California 94547 California United States Agenda: To approve the election of two directors by the holders of outstanding Class A Common Stock and four directors by the holders of outstanding Class B Common Stock; to ratify the selection of KPMG LLP as company independent auditors for the fiscal year ending December 31, 2024; to approve the amended Bio-Rad Laboratories, Inc. 2017 Incentive Award Plan; and to approve Such other matters as may properly come before the meeting and at any adjournments or postponements thereof. Reported Earnings • Feb 16
Full year 2023 earnings released: US$21.82 loss per share (vs US$122 loss in FY 2022) Full year 2023 results: US$21.82 loss per share (improved from US$122 loss in FY 2022). Revenue: US$2.67b (down 4.7% from FY 2022). Net loss: US$637.3m (loss narrowed 82% from FY 2022). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Feb 16
Bio-Rad Laboratories, Inc. Appoints Norman Schwartz as Principal Financial Officer On February 9, 2024, Bio-Rad Laboratories, Inc.’s board of directors appointed Norman Schwartz, the Company’s President and Chief Executive Officer and the Chairman of the Board, as the Company’s principal financial officer until a permanent replacement for Ilan Daskal has been appointed. Announcement • Jan 25
Bio-Rad Laboratories, Inc. to Report Q4, 2023 Results on Feb 15, 2024 Bio-Rad Laboratories, Inc. announced that they will report Q4, 2023 results After-Market on Feb 15, 2024 Announcement • Dec 08
Bio-Rad Laboratories, Inc. Announces Resignation of Dara Grantham Wright as Executive Vice-President and President, Effective January 12, 2024 On December 4, 2023, Dara Grantham Wright, the Executive Vice-President and President, Clinical Diagnostics Group, of Bio-Rad Laboratories, Inc. and a named executive officer of the Company, notified the Company of her plans to resign from the Company to pursue another opportunity, effective at the close of business on January 12, 2024. The Company has initiated a search to fill this position. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: US$3.65 (vs US$5.52 loss in 3Q 2022) Third quarter 2023 results: EPS: US$3.65 (up from US$5.52 loss in 3Q 2022). Revenue: US$632.1m (down 7.1% from 3Q 2022). Net income: US$106.3m (up US$270.5m from 3Q 2022). Profit margin: 17% (up from net loss in 3Q 2022). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Announcement • Oct 06
Bio-Rad Laboratories, Inc. to Report Q3, 2023 Results on Oct 26, 2023 Bio-Rad Laboratories, Inc. announced that they will report Q3, 2023 results After-Market on Oct 26, 2023 New Risk • Sep 19
New major risk - Revenue and earnings growth Earnings have declined by 21% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Aug 26
Bio-Rad Laboratories, Inc. Announces Executive Changes, Effective September 18, 2023 Bio-Rad Laboratories, Inc. announced on August 21, 2023, Ajit Ramalingam, the Senior Vice-President, Chief Accounting Officer of the company and the company’s principal accounting officer, notified the company of his plans to resign from the company, effective at the close of business on September 18, 2023. The company has initiated a search to fill this position. Upon effectiveness of Mr. Ramalingam’s resignation and until a permanent successor is appointed by the company, Tania DeVilliers will act as the company’s interim principal accounting officer, in addition to her current position as Senior Director, Corporate Controller. Ms. DeVilliers has been a certified public accountant since 2008 and a Chartered Accountant since 1996, and she has over twenty-five years of experience in accounting and financial management roles. Ms. DeVilliers, age 50, joined the Company as Senior Director, Corporate Controller in June 2021. She worked at PricewaterhouseCoopers, a leading global professional services organization specializing in advisory, tax and assurance services, from December 1998 until she joined the Company in June 2021, in positions of increasing responsibility, most recently holding the title of Audit Director starting in 2015. Announcement • Aug 05
Bio-Rad Laboratories, Inc. Updates Its Financial Outlook for Full-Year 2023 Bio-Rad Laboratories, Inc. is updating its financial outlook for full-year 2023. The company currently expects non-GAAP currency-neutral revenue growth of approximately 0.8% in 2023 compared to its previous estimate of 4.5 % and an estimated non-GAAP operating margin of about 16.0% versus the company's prior estimate of approximately 17.5%. Excluding COVID-related sales, Bio-Rad estimates full-year 2023 non-GAAP currency-neutral revenue growth to be about 4.5% compared to its prior expectation of approximately 8.5%. New Risk • Aug 04
New major risk - Revenue and earnings growth Earnings have declined by 21% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 04
Second quarter 2023 earnings released: US$39.59 loss per share (vs US$31.12 loss in 2Q 2022) Second quarter 2023 results: US$39.59 loss per share (further deteriorated from US$31.12 loss in 2Q 2022). Revenue: US$681.1m (down 1.4% from 2Q 2022). Net loss: US$1.16b (loss widened 25% from 2Q 2022). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Jul 12
Bio-Rad Laboratories, Inc. to Report Q2, 2023 Results on Aug 03, 2023 Bio-Rad Laboratories, Inc. announced that they will report Q2, 2023 results After-Market on Aug 03, 2023 Recent Insider Transactions • Jun 08
Senior VP & Chief Accounting Officer recently sold €68k worth of stock On the 6th of June, Ajit Ramalingam sold around 198 shares on-market at roughly €345 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €843k more than they bought in the last 12 months. Buying Opportunity • May 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.3%. The fair value is estimated to be €519, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 05
First quarter 2023 earnings released: EPS: US$2.33 (vs US$113 loss in 1Q 2022) First quarter 2023 results: EPS: US$2.33 (up from US$113 loss in 1Q 2022). Revenue: US$676.8m (down 3.3% from 1Q 2022). Net income: US$69.0m (up US$3.44b from 1Q 2022). Profit margin: 10% (up from net loss in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 16
Executive VP recently sold €344k worth of stock On the 8th of March, Timothy Ernst sold around 746 shares on-market at roughly €461 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €775k more than they bought in the last 12 months. Reported Earnings • Feb 18
Full year 2022 earnings released: US$122 loss per share (vs US$142 profit in FY 2021) Full year 2022 results: US$122 loss per share (down from US$142 profit in FY 2021). Revenue: US$2.80b (down 4.1% from FY 2021). Net loss: US$3.63b (down 185% from profit in FY 2021). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jan 07
Bio-Rad Laboratories, Inc. to Report Q4, 2022 Results on Feb 16, 2023 Bio-Rad Laboratories, Inc. announced that they will report Q4, 2022 results After-Market on Feb 16, 2023 Recent Insider Transactions • Nov 16
Senior VP & Chief Accounting Officer recently sold €157k worth of stock On the 10th of November, Ajit Ramalingam sold around 379 shares on-market at roughly €415 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €431k more than they bought in the last 12 months. Buying Opportunity • Nov 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 34%. The fair value is estimated to be €451, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Oct 28
Third quarter 2022 earnings released: US$5.52 loss per share (vs US$132 profit in 3Q 2021) Third quarter 2022 results: US$5.52 loss per share (down from US$132 profit in 3Q 2021). Revenue: US$680.8m (down 8.9% from 3Q 2021). Net loss: US$164.2m (down 104% from profit in 3Q 2021). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Recent Insider Transactions • Aug 10
Senior VP & Chief Accounting Officer recently sold €274k worth of stock On the 5th of August, Ajit Ramalingam sold around 518 shares on-market at roughly €529 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €865k more than they bought in the last 12 months. Reported Earnings • Jul 30
Second quarter 2022 earnings released: US$31.12 loss per share (vs US$30.71 profit in 2Q 2021) Second quarter 2022 results: US$31.12 loss per share (down from US$30.71 profit in 2Q 2021). Revenue: US$691.1m (down 3.5% from 2Q 2021). Net loss: US$927.2m (down 201% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 3.3%, compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Jul 14
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be €643, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Board Change • May 31
High number of new directors Director Emeritus Alice Schwartz was the last director to join the board, commencing their role in 2022. Reported Earnings • Apr 30
First quarter 2022 earnings released: US$113 loss per share (vs US$32.77 profit in 1Q 2021) First quarter 2022 results: US$113 loss per share (down from US$32.77 profit in 1Q 2021). Revenue: US$700.1m (down 3.7% from 1Q 2021). Net loss: US$3.37b (down 445% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 2.6%, compared to a 12% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Lead Independent Director Greg Hinckley was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$142 (up from US$128 in FY 2020). Revenue: US$2.92b (up 15% from FY 2020). Net income: US$4.25b (up 12% from FY 2020). Revenue exceeded analyst estimates by 1.0%. Over the next year, revenue is expected to shrink by 2.1% compared to a 44% growth forecast for the pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS US$132 (vs US$44.24 in 3Q 2020) Third quarter 2021 results: Revenue: US$747.0m (up 15% from 3Q 2020). Net income: US$3.93b (up 199% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Sep 09
Executive VP & CFO recently sold €186k worth of stock On the 3rd of September, Ilan Daskal sold around 270 shares on-market at roughly €690 per share. In the last 3 months, they made an even bigger sale worth €572k. Ilan has been a seller over the last 12 months, reducing personal holdings by €759k. Recent Insider Transactions • Aug 28
Insider recently sold €404k worth of stock On the 26th of August, Annette Tumolo sold around 600 shares on-market at roughly €674 per share. In the last 3 months, there was an even bigger sale from another insider worth €572k. Insiders have been net sellers, collectively disposing of €1.6m more than they bought in the last 12 months. Recent Insider Transactions • Aug 06
Executive VP & CFO recently sold €572k worth of stock On the 4th of August, Ilan Daskal sold around 900 shares on-market at roughly €636 per share. This was the largest sale by an insider in the last 3 months. This was Ilan's only on-market trade for the last 12 months. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$30.71 (vs US$32.59 in 2Q 2020) Second quarter 2021 results: Revenue: US$715.9m (up 33% from 2Q 2020). Net income: US$914.1m (down 5.4% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
First quarter 2021 earnings released: EPS US$32.75 (vs US$22.97 in 1Q 2020) First quarter 2021 results: Revenue: US$726.8m (up 27% from 1Q 2020). Net income: US$977.4m (up 43% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Feb 24
Executive VP recently sold €276k worth of stock On the 19th of February, Timothy Ernst sold around 523 shares on-market at roughly €528 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.3m more than they bought in the last 12 months. Reported Earnings • Feb 12
Full year 2020 earnings released: EPS US$128 (vs US$58.93 in FY 2019) Full year 2020 results: Revenue: US$2.55b (up 10% from FY 2019). Net income: US$3.81b (up 116% from FY 2019). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations Revenue exceeded analyst estimates by 4.8%. Over the next year, revenue is expected to shrink by 2.4% compared to a 28% growth forecast for the Life Sciences industry in Germany. Is New 90 Day High Low • Feb 11
New 90-day high: €535 The company is up 3.0% from its price of €520 on 13 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Life Sciences industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €236 per share. Recent Insider Transactions • Dec 18
Insider recently sold €179k worth of stock On the 15th of December, Michael Crowley sold around 374 shares on-market at roughly €478 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.1m more than they bought in the last 12 months. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 14% at US$647.3m. Revenue is forecast to grow 3.2% over the next year, compared to a 17% growth forecast for the Life Sciences industry in Germany. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of US$3.52b, with earnings increasing by US$3.13b from the prior year. Total revenue was US$2.38b over the last 12 months, up 3.3% from the prior year. Is New 90 Day High Low • Oct 24
New 90-day high: €490 The company is up 10.0% from its price of €444 on 24 July 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Life Sciences industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €213 per share. Announcement • Oct 20
Bio-Rad Laboratories, Inc. to Report Q3, 2020 Results on Oct 29, 2020 Bio-Rad Laboratories, Inc. announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Oct 29, 2020 Is New 90 Day High Low • Oct 09
New 90-day high: €466 The company is up 11% from its price of €418 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Life Sciences industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €214 per share. Announcement • Oct 06
Bio-Rad Laboratories, Inc. (NYSE:BIO) acquired Celsee, Inc. for approximately $160 million. Bio-Rad Laboratories, Inc. (NYSE:BIO) agreed to acquire Celsee, Inc. for approximately $160 million on March 19, 2020. The consideration includes contingent consideration related to the achievement of sales milestones that could potentially range from $0 to $60 million.
Bio-Rad Laboratories, Inc. (NYSE:BIO) completed the acquisition of Celsee, Inc. on April 1, 2020. John Duke, Jessica Bisignano, Christine Lane, Mike Frank, Mike DeLarco and Kristin Anne Connarn of Hogan Lovells US LLP acted as the legal advisor to Bio-Rad Laboratories, Inc. Announcement • Jul 17
Bio-Rad Laboratories, Inc. to Report Q2, 2020 Results on Jul 30, 2020 Bio-Rad Laboratories, Inc. announced that they will report Q2, 2020 results at 5:00 PM, Eastern Standard Time on Jul 30, 2020 Announcement • Jul 03
Bio-Rad Laboratories, Inc.(NYSE:BIO) dropped from Russell 1000 Dynamic Index Bio-Rad Laboratories, Inc.(NYSE:BIO) dropped from Russell 1000 Dynamic Index 
