Mawer Investment Management Ltd. Cuts Position in Bio-Rad Laboratories, Inc. $BIO

Mawer Investment Management Ltd. decreased its holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 233,946 shares of the medical research company’s stock after selling 9,522 shares during the period. Mawer Investment Management Ltd. owned approximately 0.87% of Bio-Rad Laboratories worth $70,883,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BIO. Royal Bank of Canada raised its holdings in Bio-Rad Laboratories by 25.2% in the first quarter. Royal Bank of Canada now owns 30,310 shares of the medical research company’s stock valued at $7,382,000 after buying an additional 6,100 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Bio-Rad Laboratories by 45.6% during the first quarter. Goldman Sachs Group Inc. now owns 105,006 shares of the medical research company’s stock valued at $25,575,000 after purchasing an additional 32,874 shares during the period. Empowered Funds LLC raised its stake in shares of Bio-Rad Laboratories by 14.8% during the first quarter. Empowered Funds LLC now owns 1,547 shares of the medical research company’s stock valued at $377,000 after purchasing an additional 199 shares during the period. Jane Street Group LLC raised its stake in shares of Bio-Rad Laboratories by 95.3% during the first quarter. Jane Street Group LLC now owns 37,383 shares of the medical research company’s stock valued at $9,105,000 after purchasing an additional 18,239 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Bio-Rad Laboratories by 13.5% during the second quarter. Cetera Investment Advisers now owns 2,192 shares of the medical research company’s stock valued at $529,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Down 2.2%

Shares of NYSE:BIO opened at $305.46 on Tuesday. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $279.38 and a 200 day simple moving average of $291.97. The firm has a market cap of $8.17 billion, a PE ratio of 50.32 and a beta of 1.08. Bio-Rad Laboratories, Inc. has a 12-month low of $211.43 and a 12-month high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). Bio-Rad Laboratories had a return on equity of 3.56% and a net margin of 6.52%.The company had revenue of $592.10 million during the quarter, compared to the consensus estimate of $589.91 million. During the same quarter last year, the firm posted $2.54 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BIO shares. Royal Bank Of Canada started coverage on shares of Bio-Rad Laboratories in a research note on Friday, May 15th. They set an “outperform” rating and a $320.00 price objective on the stock. Weiss Ratings lowered shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company dropped their price target on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $375.00 to $300.00 in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bio-Rad Laboratories currently has an average rating of “Hold” and a consensus price target of $303.33.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.