New Lifetime High Reached By Bio-Rad Laboratories (BIO)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Bio-Rad Laboratories ( BIO) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Bio-Rad Laboratories as such a stock due to the following factors:

  • BIO has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $27.2 million.
  • BIO has traded 1,165 shares today.
  • BIO is trading at a new lifetime high.

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More details on BIO:

Bio-Rad Laboratories, Inc. manufactures and supplies products and systems used to separate complex chemical and biological materials, as well as to identify, analyze, and purify their components for life science research, healthcare, analytical chemistry, and other markets. BIO has a PE ratio of 42. Currently there is 1 analyst that rates Bio-Rad Laboratories a buy, no analysts rate it a sell, and 1 rates it a hold.

The average volume for Bio-Rad Laboratories has been 176,500 shares per day over the past 30 days. Bio-Rad has a market cap of $3.5 billion and is part of the health care sector and health services industry. The stock has a beta of 1.06 and a short float of 5.4% with 5.78 days to cover. Shares are up 20.9% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Bio-Rad Laboratories as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:
  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
  • BIO-RAD LABORATORIES INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, BIO-RAD LABORATORIES INC increased its bottom line by earning $3.05 versus $2.69 in the prior year. This year, the market expects an improvement in earnings ($3.45 versus $3.05).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Life Sciences Tools & Services industry. The net income increased by 167.2% when compared to the same quarter one year prior, rising from $6.67 million to $17.82 million.
  • BIO's debt-to-equity ratio is very low at 0.20 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 2.53, which clearly demonstrates the ability to cover short-term cash needs.
  • The gross profit margin for BIO-RAD LABORATORIES INC is rather high; currently it is at 63.95%. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 3.76% trails the industry average.

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