Mackenzie Financial Corp Purchases 1,018 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Mackenzie Financial Corp raised its stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 161.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,647 shares of the medical research company's stock after acquiring an additional 1,018 shares during the period. Mackenzie Financial Corp's holdings in Bio-Rad Laboratories were worth $401,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC increased its stake in Bio-Rad Laboratories by 34.3% in the 4th quarter. LPL Financial LLC now owns 5,195 shares of the medical research company's stock valued at $1,707,000 after buying an additional 1,326 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Bio-Rad Laboratories in the fourth quarter valued at approximately $245,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Bio-Rad Laboratories during the fourth quarter valued at approximately $1,845,000. Envestnet Asset Management Inc. lifted its holdings in Bio-Rad Laboratories by 6.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 105,027 shares of the medical research company's stock worth $34,502,000 after acquiring an additional 6,287 shares during the period. Finally, Shelton Capital Management bought a new stake in Bio-Rad Laboratories during the fourth quarter worth $237,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIO. Wells Fargo & Company raised their target price on Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Royal Bank Of Canada raised their price objective on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. UBS Group lowered their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised shares of Bio-Rad Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Citigroup decreased their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Bio-Rad Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $333.50.

Bio-Rad Laboratories Stock Performance

Bio-Rad Laboratories stock traded down $0.81 during midday trading on Friday, reaching $264.45. The stock had a trading volume of 211,846 shares, compared to its average volume of 346,668. The firm has a market capitalization of $7.16 billion, a PE ratio of 22.54 and a beta of 0.90. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $387.99. The company has a quick ratio of 3.67, a current ratio of 5.12 and a debt-to-equity ratio of 0.17. The firm's 50-day moving average price is $245.28 and its 200 day moving average price is $257.60.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.68. The business had revenue of $651.60 million during the quarter, compared to analyst estimates of $614.82 million. Bio-Rad Laboratories had a net margin of 12.50% and a return on equity of 4.01%. Bio-Rad Laboratories's revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.11 EPS. As a group, research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current fiscal year.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.