Bio-Rad Laboratories Up 7% After Investor Day By Investing.com

Bio-Rad Laboratories Up 7% After Investor Day

Stock Markets Feb 25, 2022 01:36PM ET

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Bio-Rad Laboratories Up 7% After Investor Day

By Sam Boughedda

Investing.com -- Bio-Rad Laboratories Inc (NYSE:BIO), the life science and clinical diagnostic products firm gave an optimistic forecast at its investor day on Friday, boosting its shares by more than 7%.

The company released a statement soon after the event outlining its targets.

During its 2017 investor day, the company said it was targeting revenue growth of 3% to 5% and an adjusted earnings before interest, taxes, depreciation and amortization margin target of 20% + in 2020, which it exceeded.

Outlining its aims for 2025, the company is targeting approximately 9% core revenue CAGR from 2021 to 2025 and a 28% adjusted Ebitda margin in 2025.

“Having exceeded all of the long-term financial targets we outlined in 2017, we are now excited to share the details of our growth strategy and how we are poised to enhance our financial profile even further," said Norman Schwartz, Bio-Rad’s CEO.

"We are also introducing new products and capabilities, with an expanded suite of ddPCRTM products, initial offerings in single cell analysis, and molecular diagnostics,” he added.

During the investor day, the company spoke further on goals such as accelerating revenue growth through portfolio transformation, optimizing cost structure, and deploying capital for strategic acquisitions.

While Bio-Rad's shares have made substantial gains Friday, they are down 15% so far in 2022.

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