Hsbc Holdings PLC boosted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 807.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,538 shares of the medical research company’s stock after purchasing an additional 15,606 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Bio-Rad Laboratories worth $5,490,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BIO. Bodenholm Capital AB acquired a new position in Bio-Rad Laboratories during the third quarter valued at approximately $32,540,000. First Trust Advisors LP grew its holdings in Bio-Rad Laboratories by 1,258.0% during the third quarter. First Trust Advisors LP now owns 102,437 shares of the medical research company’s stock valued at $32,062,000 after purchasing an additional 94,894 shares during the period. GW&K Investment Management LLC acquired a new position in Bio-Rad Laboratories during the third quarter valued at approximately $20,890,000. Prudential Financial Inc. grew its holdings in Bio-Rad Laboratories by 184.8% during the third quarter. Prudential Financial Inc. now owns 77,931 shares of the medical research company’s stock valued at $24,392,000 after purchasing an additional 50,565 shares during the period. Finally, Columbus Circle Investors grew its holdings in Bio-Rad Laboratories by 54.1% during the third quarter. Columbus Circle Investors now owns 129,183 shares of the medical research company’s stock valued at $40,433,000 after purchasing an additional 45,344 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.
Shares of BIO opened at $256.23 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.16 and a current ratio of 4.49. Bio-Rad Laboratories, Inc. has a twelve month low of $231.00 and a twelve month high of $345.15. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 62.50, a P/E/G ratio of 3.20 and a beta of 1.09.
Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, November 1st. The medical research company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.25). Bio-Rad Laboratories had a net margin of 55.13% and a return on equity of 3.72%. The company had revenue of $545.10 million during the quarter, compared to the consensus estimate of $541.23 million. During the same period in the previous year, the firm posted $0.91 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Bio-Rad Laboratories, Inc. will post 5.47 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. Barclays assumed coverage on shares of Bio-Rad Laboratories in a report on Wednesday, September 5th. They set an “equal weight” rating and a $345.00 price objective for the company. Zacks Investment Research cut shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a report on Monday, November 12th. Goldman Sachs Group assumed coverage on shares of Bio-Rad Laboratories in a report on Wednesday, October 17th. They set a “buy” rating and a $350.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and set a $420.00 price objective on shares of Bio-Rad Laboratories in a report on Monday, September 24th. Finally, Morgan Stanley assumed coverage on shares of Bio-Rad Laboratories in a report on Thursday, September 20th. They set an “equal weight” rating and a $335.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $338.43.
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Bio-Rad Laboratories Company Profile
Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.
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