Bio-Rad Laboratories, Inc. $BIO Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 10.6% during the fourth quarter, Holdings Channel reports. The firm owned 33,800 shares of the medical research company’s stock after selling 4,000 shares during the quarter. Gabelli Funds LLC’s holdings in Bio-Rad Laboratories were worth $10,241,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BIO. Danske Bank A S bought a new position in shares of Bio-Rad Laboratories during the fourth quarter worth about $30,000. Geneos Wealth Management Inc. grew its position in Bio-Rad Laboratories by 115.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 142 shares of the medical research company’s stock valued at $34,000 after buying an additional 76 shares in the last quarter. Farther Finance Advisors LLC grew its position in Bio-Rad Laboratories by 76.9% in the 4th quarter. Farther Finance Advisors LLC now owns 184 shares of the medical research company’s stock valued at $56,000 after buying an additional 80 shares in the last quarter. CWM LLC grew its position in Bio-Rad Laboratories by 82.0% in the 3rd quarter. CWM LLC now owns 202 shares of the medical research company’s stock valued at $57,000 after buying an additional 91 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Bio-Rad Laboratories by 24.0% in the 3rd quarter. UMB Bank n.a. now owns 207 shares of the medical research company’s stock valued at $58,000 after buying an additional 40 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Bio-Rad Laboratories Stock Performance

NYSE:BIO opened at $280.56 on Wednesday. Bio-Rad Laboratories, Inc. has a twelve month low of $211.43 and a twelve month high of $343.12. 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 company has a 50-day moving average of $273.53 and a 200-day moving average of $292.69. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 46.22 and a beta of 1.06.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings data 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 net margin of 6.52% and a return on equity of 3.56%. The business had revenue of $592.10 million for the quarter, compared to the consensus estimate of $589.91 million. During the same quarter last year, the business posted $2.54 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts forecast that Bio-Rad Laboratories, Inc. will post 10.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of Bio-Rad Laboratories in a research report on Friday, May 15th. They issued an “outperform” rating and a $320.00 target price for the company. Citigroup lowered shares of Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the company from $375.00 to $300.00 in a research report on Tuesday, April 7th. Wells Fargo & Company decreased 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. Weiss Ratings lowered shares of Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, 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. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” 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.