Hsbc Holdings PLC Invests $4.31 Million in Bio-Rad Laboratories, Inc. $BIO

Hsbc Holdings PLC purchased a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 15,585 shares of the medical research company’s stock, valued at approximately $4,311,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BIO. Exchange Traded Concepts LLC boosted its stake in Bio-Rad Laboratories by 37.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,592 shares of the medical research company’s stock worth $8,966,000 after purchasing an additional 8,012 shares in the last quarter. SG Americas Securities LLC increased its stake in Bio-Rad Laboratories by 195.6% during the 4th quarter. SG Americas Securities LLC now owns 18,958 shares of the medical research company’s stock valued at $5,744,000 after purchasing an additional 12,544 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Bio-Rad Laboratories by 4,534.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 399,207 shares of the medical research company’s stock valued at $120,956,000 after purchasing an additional 390,593 shares in the last quarter. Virtu Financial LLC purchased a new position in Bio-Rad Laboratories in the fourth quarter worth about $672,000. Finally, JPMorgan Chase & Co. raised its holdings in Bio-Rad Laboratories by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 56,250 shares of the medical research company’s stock worth $15,772,000 after buying an additional 2,519 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

BIO has been the topic of several analyst reports. Citigroup cut Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $375.00 to $300.00 in a research report on Tuesday, April 7th. Weiss Ratings lowered Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Wells Fargo & Company decreased their price target on 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. Royal Bank Of Canada initiated coverage on Bio-Rad Laboratories in a report on Friday, May 15th. They set an “outperform” rating and a $320.00 price target on the stock. Finally, Zacks Research cut Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $303.33.

Bio-Rad Laboratories Stock Down 0.8%

NYSE BIO opened at $313.78 on Friday. The stock’s 50-day moving average price is $295.31 and its 200-day moving average price is $287.75. 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, Inc. has a 52 week low of $236.73 and a 52 week high of $343.12. The company has a market capitalization of $8.40 billion, a P/E ratio of 51.69 and a beta of 1.08.

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 business had revenue of $592.10 million during the quarter, compared to analysts’ expectations of $589.91 million. During the same quarter in the previous year, the company posted $2.54 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts predict that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current year.

Bio-Rad Laboratories 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.