Gabelli Funds LLC Sells 2,000 Shares of Bio-Rad Laboratories, Inc. $BIO

Gabelli Funds LLC cut its stake in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,800 shares of the medical research company’s stock after selling 2,000 shares during the period. Gabelli Funds LLC owned approximately 0.14% of Bio-Rad Laboratories worth $10,599,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Quent Capital LLC bought a new position in shares of Bio-Rad Laboratories in the third quarter worth $25,000. Farther Finance Advisors LLC lifted its position in Bio-Rad Laboratories by 52.9% during the third quarter. Farther Finance Advisors LLC now owns 104 shares of the medical research company’s stock worth $29,000 after purchasing an additional 36 shares during the period. Geneos Wealth Management Inc. lifted its position in Bio-Rad Laboratories by 115.2% during the second quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock worth $34,000 after purchasing an additional 76 shares during the period. CWM LLC grew its stake in Bio-Rad Laboratories by 82.0% during the third quarter. CWM LLC now owns 202 shares of the medical research company’s stock worth $57,000 after buying an additional 91 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Bio-Rad Laboratories by 24.0% during the third quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock worth $58,000 after buying an additional 40 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Bio-Rad Laboratories in a research report on Monday, December 29th. Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $358.50.

Bio-Rad Laboratories Stock Down 3.2%

BIO stock opened at $270.00 on Monday. The stock has a market capitalization of $7.29 billion, a P/E ratio of 9.67 and a beta of 1.18. The company has a current ratio of 5.62, a quick ratio of 4.19 and a debt-to-equity ratio of 0.16. Bio-Rad Laboratories, Inc. has a 12 month low of $211.43 and a 12 month high of $343.12. The firm has a 50-day moving average price of $295.78 and a 200-day moving average price of $301.28.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, February 12th. The medical research company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.06). The company had revenue of $693.20 million during the quarter, compared to analyst estimates of $694.64 million. Bio-Rad Laboratories had a net margin of 29.42% and a return on equity of 3.86%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.90 earnings per share. As a group, equities research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current fiscal year.

Bio-Rad Laboratories Company 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.