Bio-Rad Laboratories (BIO)

NYSEHealth CareMedical - DevicesSnapshot 2026-10-23

$369.95+1.77%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Bio-Rad Laboratories’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	695.4M
EPS	—	3.02
FY 2026 · Annual
Revenue	—	2.59B
EPS	—	9.75
Operating margin	10%–12%non-GAAP	—
FY 2027 · Annual
Revenue	—	2.67B
EPS	—	10.245

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Improvement in operational efficiency driven by activist involvement	Activist involvement could improve efficiency and unlock value.	Improving	No meaningful operational improvements reported within 2 quarters	Cost savings $30M-$35M vs qualitative target Activist involvement highlighted; workforce reduction executed; Q2 earnings beat; $30M-$35M cost savings targeted by 2027. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Non-GAAP operating margin between 10.0% and 12.0% in fiscal 2026	The company targets an operating margin near 11%, despite recent margin cuts.	Under Pressure	Operating margin falls below 10.0% in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Management has consistently guided a non-GAAP operating margin range of 10.0% to 12.0% for full-year 2026, revising down from prior estimates of up to 12.5%. The actual non-GAAP operating margin was 12.5% in 2025 and is expected to be lower in 2026, indicating limited progress in margin expansion but consistent focus on this target. Delivery assessment Oct 24, 2026
Revenue growth between -3.0% and 0.5% in fiscal 2026	A primary condition in Bio-Rad Laboratories's published investment case. The stated target is between -3.0% and 0.5% YoY.	Intact	YoY revenue growth falls below -3.0% in FY26	Revenue growth: -0.09% FY2026-Q2; GAAP. Published target: between -3.0% and 0.5% YoY. Target period is not explicitly aligned with this observation. Source published Aug 4, 2026-0.092081 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 04232ab2-efcf-45df-b94b-7121b79fcf26. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPSUnavailable

$9.72 → Unavailable · observed estimates

FY2027 revenueUnavailable

$2.63B → Unavailable · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$9.72	$2,634,795,700	5 / 5
2026-07-25	$9.72	$2,634,795,700	5 / 5
2026-07-26	$9.72	$2,634,795,700	5 / 5
2026-07-27	$9.72	$2,634,795,700	5 / 5
2026-07-28	$9.72	$2,634,795,700	5 / 5
2026-07-29	$9.72	$2,634,795,700	5 / 5
2026-07-30	$9.72	$2,634,795,700	5 / 5
2026-07-31	Unavailable	Unavailable	2 / 4
2026-08-01	$9.72	$2,634,888,500	5 / 5
2026-08-02	$9.72	$2,634,888,500	5 / 5
2026-08-03	$9.72	$2,634,888,500	5 / 5
2026-08-04	$9.72	$2,634,888,500	5 / 5
2026-08-05	$9.72	$2,634,888,500	5 / 5
2026-08-06	Unavailable	Unavailable	2 / 4
2026-08-07	Unavailable	Unavailable	2 / 4
2026-08-08	$10.03	$2,633,495,220	5 / 5
2026-08-09	$10.03	$2,633,495,220	5 / 5
2026-08-10	$10.03	$2,633,495,220	5 / 5
2026-08-11	$10.03	$2,633,495,220	5 / 5
2026-08-12	$10.03	$2,633,495,220	5 / 5
2026-08-13	$10.03	$2,633,495,220	5 / 5
2026-08-14	Unavailable	Unavailable	2 / 4
2026-08-15	Unavailable	Unavailable	2 / 4
2026-08-16	Unavailable	Unavailable	2 / 4
2026-08-17	Unavailable	Unavailable	2 / 4
2026-08-18	Unavailable	Unavailable	2 / 4
2026-08-19	Unavailable	Unavailable	2 / 4
2026-08-20	Unavailable	Unavailable	2 / 4
2026-08-21	Unavailable	Unavailable	2 / 4
2026-08-22	Unavailable	Unavailable	2 / 4
2026-08-23	Unavailable	Unavailable	2 / 4
2026-08-24	Unavailable	Unavailable	2 / 4
2026-08-25	Unavailable	Unavailable	2 / 4
2026-08-26	Unavailable	Unavailable	2 / 4
2026-08-27	Unavailable	Unavailable	2 / 4
2026-08-28	Unavailable	Unavailable	2 / 4
2026-08-29	Unavailable	Unavailable	2 / 4
2026-08-30	Unavailable	Unavailable	2 / 4
2026-08-31	Unavailable	Unavailable	2 / 4
2026-09-01	Unavailable	Unavailable	2 / 4
2026-09-02	Unavailable	Unavailable	2 / 4
2026-09-03	Unavailable	Unavailable	2 / 4
2026-09-04	Unavailable	Unavailable	2 / 4
2026-09-05	Unavailable	Unavailable	2 / 4
2026-09-06	Unavailable	Unavailable	2 / 4
2026-09-07	Unavailable	Unavailable	2 / 4
2026-09-08	Unavailable	Unavailable	2 / 4
2026-09-09	Unavailable	Unavailable	2 / 4
2026-09-10	Unavailable	Unavailable	2 / 4
2026-09-11	Unavailable	Unavailable	2 / 4
2026-09-12	Unavailable	Unavailable	2 / 4
2026-09-13	Unavailable	Unavailable	2 / 4
2026-09-14	Unavailable	Unavailable	2 / 4
2026-09-15	Unavailable	Unavailable	2 / 4
2026-09-16	Unavailable	Unavailable	2 / 4
2026-09-17	Unavailable	Unavailable	2 / 4
2026-09-18	Unavailable	Unavailable	2 / 4
2026-09-19	Unavailable	Unavailable	2 / 4
2026-09-20	Unavailable	Unavailable	2 / 4
2026-09-21	Unavailable	Unavailable	2 / 4
2026-09-22	Unavailable	Unavailable	2 / 4
2026-09-23	Unavailable	Unavailable	2 / 4
2026-09-24	Unavailable	Unavailable	2 / 4
2026-09-25	Unavailable	Unavailable	2 / 4
2026-09-26	Unavailable	Unavailable	2 / 3
2026-09-27	Unavailable	Unavailable	2 / 3
2026-09-28	Unavailable	Unavailable	2 / 3
2026-09-29	Unavailable	Unavailable	2 / 3
2026-09-30	Unavailable	Unavailable	2 / 3
2026-10-01	Unavailable	Unavailable	2 / 2
2026-10-02	Unavailable	Unavailable	2 / 2
2026-10-03	Unavailable	Unavailable	2 / 2
2026-10-04	Unavailable	Unavailable	2 / 2
2026-10-05	Unavailable	Unavailable	2 / 2
2026-10-06	Unavailable	Unavailable	2 / 2
2026-10-07	Unavailable	Unavailable	2 / 2
2026-10-08	Unavailable	Unavailable	2 / 2
2026-10-09	Unavailable	Unavailable	2 / 2
2026-10-10	Unavailable	Unavailable	2 / 2
2026-10-11	Unavailable	Unavailable	2 / 2
2026-10-12	Unavailable	Unavailable	2 / 2
2026-10-13	Unavailable	Unavailable	2 / 2
2026-10-14	Unavailable	Unavailable	2 / 2
2026-10-15	Unavailable	Unavailable	2 / 2
2026-10-16	Unavailable	Unavailable	2 / 2
2026-10-17	Unavailable	Unavailable	2 / 2
2026-10-18	Unavailable	Unavailable	2 / 2
2026-10-19	Unavailable	Unavailable	2 / 2
2026-10-20	Unavailable	Unavailable	2 / 2
2026-10-21	Unavailable	Unavailable	2 / 2
2026-10-22	Unavailable	Unavailable	2 / 2
2026-10-23	Unavailable	Unavailable	2 / 2
2026-10-24	Unavailable	Unavailable	2 / 2

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	1	4	0
2026-06-01	1	4	0
2026-07-01	1	4	1
2026-08-01	1	3	1
2026-09-01	1	3	1
2026-10-01	1	1	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 1 Buy / Strong Buy · 1 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Non-GAAP operating margin between 10.0% and 12.0% in fiscal 2026Published status: Under Pressure
Revenue growth between -3.0% and 0.5% in fiscal 2026Revenue growth: -0.09%

Next proof point

Nov 4, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

2 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

0.8%Typical daily move · historical

Downside history

-28.9%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Bio-Rad Laboratories outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

BIO is a recent-performance-led business with a cyclical risk profile, not a clear growth story today. Its multi-year view remains intact, supported by strong recent performance and a more favorable sector backdrop, while execution on growth and margins is still mixed.

What's priced into Bio-Rad Laboratories

Valuation is tagged as justified, with expectations closely aligned to the model and a modest premium versus peers. That suggests the market already recognizes the current setup, while the evidence does not point to a large expectations gap or obvious valuation fragility.

What the fundamentals likely do

Near term, recent results have been strong overall, including an August earnings beat, but BIO also missed in April and has a history of recent misses. For 2026, management has lowered its revenue-growth range to -3.0% to 0.5% and expects operating margin below 2025’s 12.5%, so near-term progress may remain limited despite restructuring efforts.

What Bio-Rad Laboratories hinges on

The multi-year view depends on whether BIO can meet its revised revenue and margin goals while restructuring costs and workforce changes are managed. A guidance cut or further weakening in jobs data would add pressure, while continued strength from healthcare peers could support the sector backdrop.