Billionaire Mario Gabelli is Dumping These 5 Stocks in 2022

2. Bio-Rad Laboratories, Inc. (NYSE:BIO)

Number Of Hedge Fund Holders: 45

Bio-Rad Laboratories, Inc. (NYSE:BIO) is an American developer and manufacturer of specialized technological products for the life science research and clinical diagnostics markets. Shares of the laboratory company have dropped by 34.46%, and as of Q1 2022, GAMCO Investors completely sold its stakes in the company.

On May 2, Citi analyst Patrick Donnelly lowered the price target on Bio-Rad Laboratories, Inc. (NYSE:BIO) to $750 from $800 and kept a Buy rating on the shares. Although the analyst dropped the price target to reflect lower peer multiples, he notes that the company posted a revenue beat in Q1 driven by healthy growth in the life sciences segment.

According to Insider Monkey’s database, 45 hedge funds were bullish on Bio-Rad Laboratories, Inc. (NYSE:BIO) with stakes worth $1.54 billion at the end of Q1 2022. This is compared to 38 positions in Q4 2021 with stakes worth $1.37 billion. Paul Marshall and Ian Wace’s Marshall Wace LLP was the company’s leading shareholder, with 467,343 shares worth more than $263.2 million.