Bio-Rad shareholders elect directors, reject executive severance plan

HERCULES, CA – Bio-Rad Laboratories, Inc. (NYSE:BIO), a manufacturer of laboratory analytical instruments with a market capitalization of $6.8 billion, announced the results of its Annual Meeting of Stockholders held on April 22, 2025. According to InvestingPro analysis, the company maintains a strong financial health score and currently appears undervalued based on its Fair Value assessment. The company, which is incorporated in Delaware and headquartered in Hercules, California, confirmed the election of its board of directors and the outcome of voting on several key proposals. The company operates with a moderate level of debt and maintains excellent liquidity, with a current ratio of 6.48, indicating strong financial flexibility for its operations.

During the meeting, shareholders voted on the election of six directors, with each nominee receiving a majority of affirmative votes in their respective classes of common stock. The elected directors are Melinda Litherland, Arnold A. Pinkston, Jeffrey L. Edwards, Gregory K. Hinckley, Allison Schwartz, and Norman Schwartz.

In addition to the director elections, the proposal to ratify KPMG LLP as the company’s independent auditors for the fiscal year ending December 31, 2025, was approved with an overwhelming majority of the voting power of both Class A and Class B common stock.

However, a stockholder proposal concerning the approval of certain executive severance arrangements did not pass. The proposal failed to receive the affirmative vote of a majority of the voting power of the holders of Class A and Class B common stock.

The detailed voting results were as follows: Melinda Litherland received 16,693,588 votes for, 3,918,478 against, and 10,596 abstaining with 1,195,004 broker non-votes in Class A. Arnold A. Pinkston’s results were similar, with 17,013,765 votes for, 3,598,331 against, and 10,566 abstaining, alongside 1,195,004 broker non-votes in Class A. For Class B, Jeffrey L. Edwards, Gregory K. Hinckley, Allison Schwartz, and Norman Schwartz each received 4,989,577 votes for, 341 against, and 913 abstaining with 3,701 broker non-votes.

The ratification of KPMG LLP as independent auditors saw 7,151,391 votes for, 51,910 against, and 2,176 abstaining. The executive severance arrangement proposal saw 923,215 votes for, 6,125,784 against, and 3,277 abstaining with 153,201 broker non-votes.

The information reported is based on a press release statement from Bio-Rad Laboratories, Inc. and reflects the official results as recorded in their latest 8-K filing with the Securities and Exchange Commission. Investors should note that Bio-Rad is scheduled to report its next earnings on May 1, 2025, with analysts expecting a return to profitability this year. For deeper insights into Bio-Rad’s financial health and growth prospects, InvestingPro subscribers have access to over 30 additional exclusive financial metrics and analysis tools, including comprehensive Pro Research Reports that transform complex Wall Street data into actionable intelligence.

In other recent news, Bio-Rad Laboratories reported its fourth-quarter 2024 earnings, revealing net sales of $668 million, which fell short of the forecasted $681.29 million. However, earnings per share slightly exceeded expectations at $2.90 against a forecast of $2.86. The company faces challenges in its Life Sciences segment, which saw a 12.8% decline in sales, while the Clinical Diagnostics Group experienced a 3.3% increase. Analysts from Jefferies and Citi have adjusted their price targets for Bio-Rad Laboratories, with Jefferies lowering it to $285 and maintaining a Hold rating, and Citi reducing it to $400 while maintaining a Buy rating.

Bio-Rad’s recent acquisition of Stilla Technologies is viewed as a defensive strategy, aimed at enhancing its digital PCR portfolio amidst increased competition. Despite the acquisition, analysts express concerns about Bio-Rad’s strategic direction and potential margin pressures. The company also anticipates challenges in the coming year due to changes in diabetes reimbursement policies in China and foreign exchange headwinds, impacting its Clinical Diagnostics segment. Looking ahead, Bio-Rad projects modest revenue growth for 2025, with an emphasis on strategic acquisitions and product innovations to drive future growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.