Mario Gabelli is Selling These 5 Stocks in 2022

In this article, we will look at the top 5 stocks billionaire Mario Gabelli sold in 2022. If you wish to look at other stocks that GAMCO Investors exited in Q1 2022, you can go to Mario Gabelli is Selling These 15 Stocks in 2022.

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

Number of Hedge Fund Holders: 38

Bio-Rad Laboratories, Inc. (NYSE:BIO) is an industry leader in life science research and clinical diagnostic products, with operations in the United States, Europe, Asia, Canada, and Latin America. However, as of May 19, shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have plummeted by 11.51% over the past twelve months, and in Q1 2022, GAMCO Investors completely sold its stakes in the company.

Even though shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have declined, the company posted a strong fiscal first quarter of 2022 this April. The company registered an EPS of $4.94 and outperformed estimates by $1.71. 

On May 2, Citi analyst Patrick Donnelly lowered his price target on Bio-Rad Laboratories, Inc. (NYSE:BIO) to $750 from $800 to reflect lower peer multiples. However, Donnelly maintained a Buy rating on the shares in light of the company’s strong earnings in Q1 2022 which were driven by significant growth in the life sciences segment.

Insider Monkey found 38 hedge funds bullish on Bio-Rad Laboratories, Inc. (NYSE:BIO) with stakes worth $1.37 billion at the end of Q4 2021. This is compared to 38 positions in Q3 2021 with stakes worth $1.44 billion.