Gamco Investors INC. ET AL Has $9.25 Million Stake in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Gamco Investors INC. ET AL cut its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,750 shares of the medical research company’s stock after selling 225 shares during the quarter. Gamco Investors INC. ET AL owned about 0.09% of Bio-Rad Laboratories worth $9,252,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Sound Income Strategies LLC bought a new stake in shares of Bio-Rad Laboratories during the first quarter worth approximately $38,000. Gladius Capital Management LP boosted its stake in Bio-Rad Laboratories by 65.8% in the 4th quarter. Gladius Capital Management LP now owns 121 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 48 shares during the period. Principal Securities Inc. acquired a new position in Bio-Rad Laboratories in the 4th quarter valued at $41,000. GAMMA Investing LLC bought a new position in Bio-Rad Laboratories during the 4th quarter worth $42,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Bio-Rad Laboratories during the first quarter worth $51,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. UBS Group lowered their target price on shares of Bio-Rad Laboratories from $420.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group reissued a “hold” rating and set a $315.00 target price (down from $440.00) on shares of Bio-Rad Laboratories in a report on Monday, June 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Bio-Rad Laboratories has an average rating of “Moderate Buy” and an average target price of $436.67.

Bio-Rad Laboratories Price Performance

Shares of Bio-Rad Laboratories stock traded up $4.25 during trading on Friday, reaching $319.42. 243,348 shares of the company’s stock were exchanged, compared to its average volume of 236,487. The firm’s 50-day moving average price is $288.60 and its 200 day moving average price is $307.05. The company has a market cap of $9.11 billion, a P/E ratio of -30.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.89 and a current ratio of 6.57. Bio-Rad Laboratories, Inc. has a 1-year low of $261.59 and a 1-year high of $431.79.

Bio-Rad Laboratories (NYSE:BIO) last announced its quarterly earnings results on Tuesday, May 7th. The medical research company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.25. The company had revenue of $610.82 million during the quarter, compared to the consensus estimate of $619.09 million. Bio-Rad Laboratories had a negative net margin of 12.37% and a positive return on equity of 3.59%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.34 earnings per share. As a group, research analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.8 earnings per share for the current year.

Insider Activity

In related news, EVP Michael Crowley sold 369 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $281.91, for a total value of $104,024.79. Following the completion of the transaction, the executive vice president now owns 6,573 shares in the company, valued at approximately $1,852,994.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 17.06% of the stock is currently owned by insiders.

Bio-Rad Laboratories Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.