Bio-Rad Laboratories Inc Class A

BIO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$973.00	Gkgp	Swslqfjrz

Tough Comparables and Foreign Exchange Lead to Bio-Rad Sales Decline; Core Results Meet Expectations

Aaron Degagne

Jul 29, 2022

While Bio-Rad’s second-quarter sales decline may seem disappointing, the story of the quarter was like the first quarter in that growth declines were not as bad as feared, and the company maintained margins in the face of inflation headwinds. Our $524 fair value estimate and narrow-moat ratings are unchanged, although we have slightly reduced our top-line forecasts for the year to account for foreign-exchange effects.

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