Bio-Rad Laboratories, Inc. $BIO Position Trimmed by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. decreased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 3.9% in the 4th quarter, Holdings Channel reports. The firm owned 233,946 shares of the medical research company’s stock after selling 9,522 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Bio-Rad Laboratories were worth $70,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in BIO. Capital Research Global Investors bought a new stake in Bio-Rad Laboratories during the third quarter valued at $117,303,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Bio-Rad Laboratories by 4,534.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock valued at $120,956,000 after acquiring an additional 390,593 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Bio-Rad Laboratories by 2,271.3% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 397,171 shares of the medical research company’s stock valued at $111,363,000 after acquiring an additional 380,422 shares during the period. Mangrove Partners IM LLC acquired a new position in shares of Bio-Rad Laboratories during the third quarter valued at $35,568,000. Finally, Norges Bank acquired a new position in shares of Bio-Rad Laboratories during the fourth quarter valued at $34,600,000. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

BIO stock opened at $305.46 on Tuesday. The company has a market capitalization of $8.17 billion, a P/E ratio of 50.32 and a beta of 1.08. The company has a 50-day simple moving average of $279.38 and a 200 day simple moving average of $291.97. Bio-Rad Laboratories, Inc. has a fifty-two week low of $211.43 and a fifty-two week high of $343.12. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12.

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

Wall Street Analyst Weigh In

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

Bio-Rad Laboratories Company Profile

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.