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

Gabelli Funds LLC cut its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIOFree Report) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,400 shares of the medical research company’s stock after selling 5,400 shares during the period. Gabelli Funds LLC’s holdings in Bio-Rad Laboratories were worth $7,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BIO. William B. Walkup & Associates Inc. increased its holdings in shares of Bio-Rad Laboratories by 2.6% in the first quarter. William B. Walkup & Associates Inc. now owns 1,902 shares of the medical research company’s stock worth $530,000 after acquiring an additional 48 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Bio-Rad Laboratories by 0.6% during the 1st quarter. Cetera Investment Advisers now owns 7,596 shares of the medical research company’s stock valued at $2,117,000 after purchasing an additional 48 shares in the last quarter. CWM LLC lifted its holdings in shares of Bio-Rad Laboratories by 26.7% during the 4th quarter. CWM LLC now owns 256 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 54 shares in the last quarter. Meeder Advisory Services Inc. grew its position in shares of Bio-Rad Laboratories by 9.0% in the 4th quarter. Meeder Advisory Services Inc. now owns 813 shares of the medical research company’s stock valued at $246,000 after purchasing an additional 67 shares during the period. Finally, Itau Unibanco Holding S.A. grew its position in shares of Bio-Rad Laboratories by 57.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 197 shares of the medical research company’s stock valued at $60,000 after purchasing an additional 72 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Bio-Rad Laboratories Stock Up 0.6%

NYSE:BIO opened at $316.45 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.37 and a current ratio of 3.21. The company has a market cap of $8.47 billion, a PE ratio of 52.13 and a beta of 1.08. Bio-Rad Laboratories, Inc. has a 52-week low of $236.73 and a 52-week high of $343.12. The stock has a 50-day simple moving average of $295.99 and a 200 day simple moving average of $287.45.

Bio-Rad Laboratories (NYSE:BIOGet Free Report) last announced its 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 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 period in the prior year, the business posted $2.54 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 9.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on BIO. Weiss Ratings downgraded shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada started coverage on shares of Bio-Rad Laboratories in a report on Friday, May 15th. They issued an “outperform” rating and a $320.00 price target for the company. Zacks Research downgraded shares of Bio-Rad Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $375.00 to $300.00 in a report on Tuesday, April 7th. Finally, Wells Fargo & Company cut their price objective on shares of Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. One 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 data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $303.33.

Get Our Latest Stock Analysis on BIO

About Bio-Rad Laboratories

(Free Report)

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.

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Institutional Ownership by Quarter for Bio-Rad Laboratories (NYSE:BIO)

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