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

Hsbc Holdings PLC bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,585 shares of the medical research company’s stock, valued at approximately $4,311,000. Hsbc Holdings PLC owned about 0.06% of Bio-Rad Laboratories as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC boosted its stake in Bio-Rad Laboratories by 2.0% during the fourth quarter. First Eagle Investment Management LLC now owns 2,570,473 shares of the medical research company’s stock worth $778,828,000 after acquiring an additional 50,154 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Bio-Rad Laboratories by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,077,072 shares of the medical research company’s stock valued at $326,344,000 after purchasing an additional 14,134 shares during the period. Capital Research Global Investors raised its holdings in shares of Bio-Rad Laboratories by 18.2% during the fourth quarter. Capital Research Global Investors now owns 494,472 shares of the medical research company’s stock valued at $149,820,000 after purchasing an additional 76,117 shares during the period. Bank of America Corp DE boosted its position in shares of Bio-Rad Laboratories by 1.7% during the 3rd quarter. Bank of America Corp DE now owns 459,887 shares of the medical research company’s stock worth $128,948,000 after purchasing an additional 7,754 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Bio-Rad Laboratories by 4,534.4% in 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 buying an additional 390,593 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Zacks Research lowered shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings lowered shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note 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 objective for the company. Citigroup downgraded shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $375.00 to $300.00 in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company lowered their target price on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. 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’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $303.33.

Bio-Rad Laboratories Stock Performance

Shares of BIO opened at $313.78 on Friday. Bio-Rad Laboratories, Inc. has a 1 year low of $236.73 and a 1 year high of $343.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.21 and a quick ratio of 2.37. The stock’s fifty day moving average price is $295.31 and its two-hundred day moving average price is $287.75. The firm has a market cap of $8.40 billion, a PE ratio of 51.69 and a beta of 1.08.

Bio-Rad Laboratories (NYSE:BIO) last posted its earnings results 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). 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 business earned $2.54 EPS. Bio-Rad Laboratories’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that Bio-Rad Laboratories, Inc. will post 9.42 EPS 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.