The Zacks Consensus Estimate for the same is pegged at $2.84 billion. The company now anticipates revenue growth of 12-13% for full-year 2021 compared with the previous guidance of 10-10.5%. Raised Guidance: Bio-Rad has updated its guidance for full-year 2021. In the same month, Bio-Rad launched PREvalence ddPCR SARS-CoV-2 Wastewater Quantification Kit to detect SARS-CoV-2 in a community’s wastewater.

Bio-Rad will exclusively market the Seegene tests in the United States, pending regulatory approvals. In June 2021, Bio-Rad teamed up with Seegene - a global provider of multiplex molecular diagnostics. On a geographic basis, the Diagnostics Group’s currency-neutral year-over-year sales grew double-digits across all regions. During the third quarter, the Diagnostics Group posted growth across its product lines. The company also started to see a recovery of demand for non-COVID businesses.Ĭlinical Diagnostics Continues to Gain Momentum: Bio-Rad’s third-quarter 2021 clinical diagnostics sales were largely driven by a recovery of routine testing. A recovery in routine testing drove the year-over-year growth. The company’s core qPCR business also experienced robust growth driven by strong uptake of the newer generation CFX Opus platform.įurther, Bio-Rad witnessed constant currency sales growth of 13.7% and reported growth of 15.5% at its Clinical diagnostics segment. The year-over-year sales growth in the third quarter was driven mainly by increases in Droplet Digital PCR products and excluding COVID-related sales. Segmental Growth: Bio-Rad witnessed sales growth of 13.9% at CER and reported growth of 15.3% for its Life Science segment in the third quarter of 2021. The company surpassed estimates in the trailing four quarters, the average surprise being 71.34%. The company projects 45.7% growth for the current year.

The renowned manufacturer and global supplier of clinical diagnostics and life science research products has a market capitalization of $22.32 billion.

The company has gained 40.8% against the 2.9% fall of the industry and 30% rise of the S&P 500. Over the past year, shares of this Zacks Rank #2 (Buy) company have outperformed the industry. However, downsides may result from foreign exchange fluctuations and a difficult pricing scenario. Further, an uptick in the Clinical Diagnostics arm in the third quarter of 2021 buoys optimism on the stock. BIO has been gaining from strength in its key product lines across major geographic areas. Institutional Distribution Intelligenceīio-Rad Laboratories, Inc.

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