Bio-Rad (BIO) Beats Q2 Earnings Estimates, Boosts Outlook With Strong Revenue Growth

Bio-Rad Laboratories, Inc. (NYSE:BIO) ranks among the best medical stocks to buy according to analysts. On July 31, Bio-Rad Laboratories, Inc. (NYSE:BIO) posted second-quarter earnings that far surpassed analyst expectation on account of higher-than-expected revenue and increased operating margin projections.

The company announced adjusted earnings per share of $2.61 in the second quarter, topping analyst expectations of $1.73. Revenue came in at $651.6 million, exceeding the consensus forecast of $615.2 million and indicating a 2.1% increase over the same quarter the previous year.

The Life Science division was the most notable, with revenues of $262.8 million, owing to increasing process chromatography and food safety product sales.

In addition, Bio-Rad Laboratories, Inc. (NYSE:BIO) recently acquired Stilla Technologies, a droplet digital PCR developer, boosting its Droplet Digital PCR offering with the debut of its QX Continuum system.

Bio-Rad Laboratories, Inc. (NYSE:BIO) is an American developer and manufacturer of specialized technological products for the life science research and clinical diagnostics markets.

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Disclosure: None.