L. Roy Papp & Associates LLP Cuts Stock Position in Bio-Techne Co. (NASDAQ:TECH)

L. Roy Papp & Associates LLP trimmed its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,492 shares of the biotechnology company’s stock after selling 695 shares during the period. L. Roy Papp & Associates LLP’s holdings in Bio-Techne were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TECH. Price T Rowe Associates Inc. MD raised its stake in shares of Bio-Techne by 92.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock valued at $404,470,000 after purchasing an additional 2,755,065 shares during the period. Brown Capital Management LLC increased its stake in Bio-Techne by 12.4% during the 4th quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock worth $273,994,000 after buying an additional 392,986 shares during the period. Mairs & Power Inc. increased its stake in Bio-Techne by 0.8% during the 4th quarter. Mairs & Power Inc. now owns 3,079,483 shares of the biotechnology company’s stock worth $237,613,000 after buying an additional 25,903 shares during the period. Bank of New York Mellon Corp lifted its holdings in Bio-Techne by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,862,526 shares of the biotechnology company’s stock worth $201,493,000 after buying an additional 351,645 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Bio-Techne by 20.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock valued at $122,879,000 after buying an additional 290,510 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

Shares of Bio-Techne stock traded up $0.94 during trading on Friday, hitting $72.29. 530,768 shares of the stock were exchanged, compared to its average volume of 1,066,197. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $85.57. The stock’s fifty day moving average is $75.03 and its 200 day moving average is $73.56. The stock has a market cap of $11.39 billion, a PE ratio of 56.63, a P/E/G ratio of 5.16 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. During the same period in the prior year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Bio-Techne’s dividend payout ratio is presently 25.40%.

Analyst Upgrades and Downgrades

TECH has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Royal Bank of Canada dropped their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Citigroup cut 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 report on Wednesday, May 22nd. Finally, Robert W. Baird lifted their price target on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus target price of $80.60.

Bio-Techne Company 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.