Mawer Investment Management Ltd. increased its position in Bio-Rad Laboratories, Inc. (NYSE:BIO – Get Rating) by 66.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,710 shares of the medical research company’s stock after buying an additional 27,010 shares during the period. Mawer Investment Management Ltd. owned 0.23% of Bio-Rad Laboratories worth $33,516,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Bio-Rad Laboratories by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,317,941 shares of the medical research company’s stock worth $1,305,534,000 after buying an additional 30,476 shares during the last quarter. Veritas Asset Management LLP acquired a new position in Bio-Rad Laboratories in the second quarter worth approximately $379,547,000. Brown Advisory Inc. increased its holdings in Bio-Rad Laboratories by 8.2% in the second quarter. Brown Advisory Inc. now owns 629,845 shares of the medical research company’s stock worth $314,245,000 after buying an additional 47,921 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Bio-Rad Laboratories by 1.0% during the first quarter. Acadian Asset Management LLC now owns 415,534 shares of the medical research company’s stock valued at $234,007,000 after purchasing an additional 4,048 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Bio-Rad Laboratories by 6.8% during the first quarter. Bank of America Corp DE now owns 394,499 shares of the medical research company’s stock valued at $222,193,000 after purchasing an additional 25,010 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on BIO shares. Credit Suisse Group lowered their price target on Bio-Rad Laboratories from $715.00 to $640.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. StockNews.com downgraded Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Finally, TheStreet downgraded Bio-Rad Laboratories from a “c” rating to a “d+” rating in a report on Thursday, October 27th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Bio-Rad Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $680.00.
Bio-Rad Laboratories Price Performance
Bio-Rad Laboratories (NYSE:BIO – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The medical research company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. Bio-Rad Laboratories had a positive return on equity of 4.13% and a negative net margin of 215.16%. The company had revenue of $680.10 million during the quarter, compared to analysts’ expectations of $685.50 million. During the same period in the prior year, the business earned $3.71 earnings per share. Bio-Rad Laboratories’s revenue for the quarter was down 9.0% compared to the same quarter last year. Sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 14.38 earnings per share for the current year.
Bio-Rad Laboratories Profile
Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.
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