Sam Boughedda

Investing.com — Bio-Rad Laboratories Inc (NYSE:)The life sciences and clinical diagnostics products company gave an optimistic outlook at Friday’s investor day, which boosted its share price by over 7%.

Shortly after the event, the company released a statement outlining their targets. 

At its 2017 investor meeting, the company claimed it would grow revenue by 3% to 5.5% with an adjusted earnings after interest, taxes and amortization target of 20% to 2020. It exceeded these targets.

The company has set its 2025 goals and targets a 9% CAGR in core revenue from 2021-2025 as well as a 28% Ebitda margin for 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 investor day, company representatives spoke more about goals like accelerating revenue growth by portfolio transformation, optimizing the cost structure and mobilizing capital for strategic acquisitions.

Bio-Rad’s shares are up a lot on Friday, but they have fallen 15% so far for 2022.