Mawer Investment Management Ltd. Purchases 37,952 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Key Points

• Mawer Investment Management Ltd. raised its stake in Bio-Rad Laboratories by 14.8%, now holding 294,879 shares valued at approximately $71.8 million.
• Several analysts have recently lowered their price targets for Bio-Rad Laboratories, with Royal Bank of Canada setting a new target at $392.00.
• Bio-Rad Laboratories reported earnings of $2.54 per share, which exceeded estimates, although revenue decreased by 4.2% from the previous year.

Mawer Investment Management Ltd. boosted its position in Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 14.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 294,879 shares of the medical research company's stock after purchasing an additional 37,952 shares during the period. Mawer Investment Management Ltd. owned approximately 1.05% of Bio-Rad Laboratories worth $71,821,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BIO. Vanguard Group Inc. raised its stake in Bio-Rad Laboratories by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,919,808 shares of the medical research company's stock valued at $630,676,000 after purchasing an additional 12,168 shares during the period. Dimensional Fund Advisors LP raised its stake in Bio-Rad Laboratories by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 746,119 shares of the medical research company's stock valued at $245,106,000 after purchasing an additional 91,690 shares during the period. Earnest Partners LLC raised its stake in Bio-Rad Laboratories by 2.1% during the 4th quarter. Earnest Partners LLC now owns 618,049 shares of the medical research company's stock valued at $203,035,000 after purchasing an additional 12,500 shares during the period. Ariel Investments LLC raised its stake in Bio-Rad Laboratories by 48.0% during the 4th quarter. Ariel Investments LLC now owns 560,524 shares of the medical research company's stock valued at $184,138,000 after purchasing an additional 181,829 shares during the period. Finally, Bank of America Corp DE raised its stake in Bio-Rad Laboratories by 705.9% during the 4th quarter. Bank of America Corp DE now owns 427,292 shares of the medical research company's stock valued at $140,370,000 after purchasing an additional 374,269 shares during the period. Institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

BIO has been the topic of several recent analyst reports. UBS Group cut their target price on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company boosted their price target on shares of Bio-Rad Laboratories from $245.00 to $265.00 and gave the company an "equal weight" rating in a report on Friday. Wall Street Zen cut shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Citigroup lowered their price target on shares of Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Royal Bank Of Canada boosted their price target on shares of Bio-Rad Laboratories from $387.00 to $409.00 and gave the company an "outperform" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $333.50.

Bio-Rad Laboratories Stock Up 17.7%

NYSE:BIO traded up $42.88 during trading hours on Friday, reaching $284.83. The company's stock had a trading volume of 752,025 shares, compared to its average volume of 335,612. The company has a market cap of $7.75 billion, a price-to-earnings ratio of -3.74 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a one year low of $211.43 and a one year high of $387.99. The business's 50-day moving average is $239.98 and its 200-day moving average is $261.37. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.99 and a quick ratio of 4.43.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical research company reported $2.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.68. The firm had revenue of $651.60 million during the quarter, compared to analysts' expectations of $614.82 million. Bio-Rad Laboratories had a negative net margin of 85.16% and a positive return on equity of 4.32%. Bio-Rad Laboratories's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.11 earnings per share. Equities research analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current 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.