Accredited Investors Inc. Sells 896 Shares of Bio-Techne Co. (NASDAQ:TECH)

Accredited Investors Inc. cut its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 17.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,360 shares of the biotechnology company’s stock after selling 896 shares during the quarter. Accredited Investors Inc.’s holdings in Bio-Techne were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mather Group LLC. bought a new stake in shares of Bio-Techne in the 1st quarter valued at about $38,000. Versant Capital Management Inc raised its holdings in shares of Bio-Techne by 1,427.8% in the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 514 shares during the period. First Horizon Advisors Inc. grew its stake in Bio-Techne by 57.9% in the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 191 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in Bio-Techne in the 1st quarter valued at about $43,000. Finally, GAMMA Investing LLC acquired a new position in Bio-Techne in the 4th quarter valued at about $44,000. 98.95% of the stock is owned by institutional investors.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH traded up $0.55 on Monday, reaching $74.99. 669,145 shares of the company’s stock were exchanged, compared to its average volume of 1,074,931. The company has a fifty day moving average of $75.37 and a 200-day moving average of $73.49. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $85.57. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 59.14, a PEG ratio of 4.69 and a beta of 1.29. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The firm had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 EPS. On average, research analysts predict that Bio-Techne Co. will post 1.8 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank of Canada decreased their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Citigroup lowered shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research note on Wednesday, May 22nd. Benchmark reiterated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th. Finally, Robert W. Baird upped their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and an average price target of $80.60.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.