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

Gabelli Funds LLC decreased its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 5.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 37,800 shares of the medical research company’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in Bio-Rad Laboratories were worth $10,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC acquired a new position in Bio-Rad Laboratories in the 3rd quarter worth about $25,000. Farther Finance Advisors LLC boosted its stake in shares of 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 valued at $29,000 after purchasing an additional 36 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of 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 valued at $34,000 after purchasing an additional 76 shares in the last quarter. CWM LLC grew its holdings in shares of 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 purchasing an additional 91 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 40 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BIO. Wall Street Zen lowered shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bio-Rad Laboratories in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bio-Rad Laboratories has an average rating of “Hold” and an average price target of $358.50.

Bio-Rad Laboratories Stock Down 3.2%

Shares of NYSE:BIO opened at $270.00 on Monday. The firm has a market cap of $7.29 billion, a P/E ratio of 9.67 and a beta of 1.18. The company has a quick ratio of 4.19, a current ratio of 5.62 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 business has a fifty day simple moving average of $295.78 and a 200 day simple moving average of $301.28.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, February 12th. The medical research company reported $2.51 EPS 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 the consensus estimate 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 quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.90 EPS. Analysts predict that Bio-Rad Laboratories, Inc. will post 10.81 earnings per share for the current year.

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.