Gabelli Funds LLC Purchases 500 Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO)

Gabelli Funds LLC boosted its position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) by 1.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 37,200 shares of the medical research company’s stock after buying an additional 500 shares during the quarter. Gabelli Funds LLC’s holdings in Bio-Rad Laboratories were worth $14,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BIO. Norges Bank bought a new position in Bio-Rad Laboratories during the fourth quarter valued at about $91,443,000. Los Angeles Capital Management LLC bought a new position in Bio-Rad Laboratories during the first quarter valued at about $88,521,000. Artisan Partners Limited Partnership bought a new position in Bio-Rad Laboratories during the second quarter valued at about $43,064,000. Thompson Siegel & Walmsley LLC increased its stake in Bio-Rad Laboratories by 44.8% during the second quarter. Thompson Siegel & Walmsley LLC now owns 294,164 shares of the medical research company’s stock valued at $111,524,000 after acquiring an additional 91,013 shares during the period. Finally, Brown Advisory Inc. increased its stake in Bio-Rad Laboratories by 9.5% during the second quarter. Brown Advisory Inc. now owns 927,008 shares of the medical research company’s stock valued at $351,447,000 after acquiring an additional 80,607 shares during the period. 63.98% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Stock Up 1.7 %

NYSE BIO opened at $304.52 on Tuesday. The firm has a market cap of $8.88 billion, a PE ratio of -52.05 and a beta of 0.91. Bio-Rad Laboratories, Inc. has a one year low of $261.59 and a one year high of $509.62. The stock’s 50 day simple moving average is $328.24 and its 200 day simple moving average is $364.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.64 and a quick ratio of 4.25.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings results on Thursday, October 26th. The medical research company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.54). The business had revenue of $632.10 million for the quarter, compared to the consensus estimate of $689.50 million. Bio-Rad Laboratories had a positive return on equity of 3.91% and a negative net margin of 5.86%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the company earned $2.60 earnings per share. As a group, sell-side analysts forecast that Bio-Rad Laboratories, Inc. will post 11.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on BIO shares. Credit Suisse Group lowered their price target on Bio-Rad Laboratories from $580.00 to $550.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Wells Fargo & Company lowered their price objective on Bio-Rad Laboratories from $550.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, August 7th. Royal Bank of Canada upped their price objective on Bio-Rad Laboratories from $522.00 to $524.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Finally, StockNews.com lowered Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $533.00.

Insider Buying and Selling

In related news, EVP Timothy S. Ernst sold 2,350 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $395.60, for a total transaction of $929,660.00. Following the sale, the executive vice president now directly owns 2,416 shares in the company, valued at approximately $955,769.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Bio-Rad Laboratories news, EVP Timothy S. Ernst sold 2,350 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $395.60, for a total transaction of $929,660.00. Following the transaction, the executive vice president now owns 2,416 shares of the company’s stock, valued at approximately $955,769.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Timothy S. Ernst sold 300 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $384.69, for a total value of $115,407.00. Following the transaction, the executive vice president now directly owns 2,416 shares in the company, valued at approximately $929,411.04. The disclosure for this sale can be found here. 17.06% of the stock is owned by corporate insiders.

About Bio-Rad Laboratories

Bio-Rad Laboratories, Inc manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes.