Bio-Rad Laboratories Inc Dossier
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SectorHealth Care IndustryMedical Devices Beta (adjusted)1.03 Intrinsic Value $224.08median of 5 methods · middle span $141-$330based on filings through 30 Jun 2026 Market Price $355.57Price as of 1 Oct 2026 OvervaluedIntrinsic value is 37% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $9.5B Enterprise Value $9.8B Shares Outstanding 26.5M diluted Moat Rating None Next Earnings Date29 Oct 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Bio-Rad Laboratories presents a unique sum-of-the-parts investment profile. The company's core operating business is heavily overshadowed by its massive strategic equity stake in Sartorius AG, which was valued at $4.90 billion as of March 31, 2026. While activist interest from Elliott Investment Management has highlighted the substantial discount at which the core business is valued, near-term operational headwinds—including soft academic research funding, biopharma spending constraints, and geopolitical disruptions in the Middle East—have pressured margins and forced management to lower its full-year 2026 guidance. Consequently, a Hold recommendation is warranted until core operational stabilization and margin recovery become more visible. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$280.00 Mean target$329.00 High · most bullish analyst$390.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $280.0020% Academic and biopharma end markets remain depressed longer than expected, and regional conflicts escalate further, causing deeper revenue declines. Sartorius AG shares experience a prolonged sell-off, leading to further massive non-cash GAAP losses, while operational inefficiencies prevent Bio-Rad from achieving its mid-teens EBIT margin targets. Base CaseCentral scenario $329.0055% Matches the consensus meanBio-Rad navigates a transitionary 2026 with flat-to-slightly-declining currency-neutral revenue and compressed operating margins of 10-12% due to persistent academic funding headwinds and Middle East conflicts. The Sartorius AG investment remains highly volatile, dictating GAAP earnings, while the core business slowly stabilizes through restructuring and China-localized manufacturing. Bull CaseUpside scenario $390.0025% Activist pressure from Elliott Investment Management successfully forces a strategic restructuring or partial monetization of the Sartorius AG stake, unlocking significant shareholder value. Simultaneously, a rapid recovery in biopharma R&D spending and strong market adoption of the QX700 Droplet Digital PCR platform drive high-margin consumables pull-through, leading to substantial margin expansion. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
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All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |