Stock Alert: Bio-Rad Laboratories Inc. (BIO) Shares Hit 52-Week High

(RTTNews) - Shares of Bio-Rad Laboratories Inc. (BIO) touched a 52-week high of $404.83 on Feb. 14 before closing Friday's trading session at $403.63, up $24.29 or 6.40%. The stock has been trading between $266.95 and $404.83 in the past one year.

Net income for the fourth quarter of 2019 was $553.5 million or $18.31 per share compared to a net loss of $828.5 million or $27.73 per share last year.

On a non-GAAP basis, net income was $70.0 million or $2.32 per share versus $63.1 million or $2.09 per share in the prior year period.

Analysts polled by Thomson Reuters expected earnings of $2.44 per share for the quarter. Analysts' estimate typically exclude certain special items.

Net sales for the quarter were $624.4 million, an increase of 1.2%, compared to $616.8 million reported for the fourth quarter of 2018.

Norman Schwartz, Bio-Rad President and Chief Executive Officer, said, "Looking back at the year, we are encouraged by our overall performance, in particular, our core operating results that provide us with good momentum toward continued topline growth and reaching our long-term goals as we head into 2020."

FY Guidance

For the full year 2020, the company anticipates currency-neutral revenue growth of about 4.5% - 5.25% and improved profitability with an estimated non-GAAP operating margin of 13.8% - 14.3%.