Gabelli Funds LLC Has $7.92 Million Stock Position in Bio-Rad Laboratories, Inc. $BIO

Gabelli Funds LLC lowered its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 16.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,400 shares of the medical research company’s stock after selling 5,400 shares during the quarter. Gabelli Funds LLC owned approximately 0.11% of Bio-Rad Laboratories worth $7,916,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC raised its holdings in Bio-Rad Laboratories by 37.1% during 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 during the last quarter. SG Americas Securities LLC lifted its position 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 during the period. Massachusetts Financial Services Co. MA boosted 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 purchasing an additional 390,593 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Bio-Rad Laboratories by 19.0% in the 1st quarter. Assetmark Inc. now owns 38,989 shares of the medical research company’s stock valued at $10,868,000 after purchasing an additional 6,224 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Bio-Rad Laboratories during the 4th quarter worth approximately $672,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock opened at $316.45 on Tuesday. The company has a current ratio of 3.21, a quick ratio of 2.37 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $8.47 billion, a P/E ratio of 52.13 and a beta of 1.08. The business has a 50-day moving average of $295.99 and a 200-day moving average of $287.45. Bio-Rad Laboratories, Inc. has a 1 year low of $236.73 and a 1 year high of $343.12.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The firm had revenue of $592.10 million during the quarter, compared to analyst estimates of $589.91 million. During the same quarter in the prior year, the business earned $2.54 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts anticipate that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current year.

Analyst Upgrades and Downgrades

BIO has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Zacks Research cut shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th. Wells Fargo & Company dropped their target price on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Finally, Royal Bank Of Canada assumed coverage on Bio-Rad Laboratories in a research note on Friday, May 15th. They issued an “outperform” rating and a $320.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $303.33.

About Bio-Rad Laboratories

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.