Bio rad western blot4/29/2023 ![]() ![]() The company has also been actively expanding its portfolio for the blood typing market. Excluding COVID-related sales, Clinical Diagnostic registered currency-neutral core revenue growth of 1.3% year over year, impacted by supply chain constraints.Solid Prospects in the Blood Typing Market: Bio-Rad offers a broad range of platforms, reagents, data management and connectivity solutions to cater to various blood typing demands, offering efficient and reliable results for blood grouping, phenotyping, crossmatching, antibody screening and identification, direct antiglobulin tests, and single antigen typing. Sales of Clinical Diagnostics products in 2022 were up 0.4% on a currency-neutral basis. ![]() Bio-Rad also expects a more meaningful revenue contribution from this platform in 2023.Clinical Diagnostics Continue to Gain Momentum: During fourth-quarter 2022, the Diagnostics group’s year-over-year currency neutral core revenues increased in the Americas and declined in Europe and in Asia. The company continued to experience strong initial customer interest and demand for the recently introduced QX600 ddPCR system. The company also witnessed substantial growth for qPCR products, partly driven by the uptake of the new CFX Opus platform. The year-over-year growth was primarily driven by Droplet Digital PCR, process chromatography and Western blotting. ![]() The company’s earnings have surpassed estimates in the trailing four quarters, the average surprise being 31.52%.Let’s delve deeper.Key DriversSegmental Growth: During 2022, despite supply chain constraints, the underlying Life Science year-over-year currency-neutral core revenue growth was 28.1%. However, foreign exchange woes and tough competition are concerning.In the past year, shares of this Zacks Rank #3 (Hold) company have lost 11.2% compared with the 38.4% fall of the industry and a 7.9% decline of the S&P 500 composite.The renowned manufacturer and global supplier of clinical diagnostics and life science research products has a market capitalization of $11.79 billion.In the past five years, the company registered earnings growth of 31.2%, way ahead of the industry’s 10.2% rise and the S&P 500’s 13.4% increase. Solid prospects in the blood typing market look encouraging. BIO is well-poised for growth in the coming quarters, backed by robust demand in Life Science and Clinical Diagnostics arms. ![]()
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