Bio-Techne (NASDAQ:TECH) Shares Down 4.5% – Should You Sell?

Bio-Techne Co. (NASDAQ:TECH) fell 4.5% during trading on Thursday . The stock traded as low as $74.45 and last traded at $75.19. 333,414 shares were traded during mid-day trading, a decline of 60% from the average session volume of 838,261 shares. The stock had previously closed at $78.71.

Wall Street Analyst Weigh In

TECH has been the subject of several research reports. Robert W. Baird raised their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Scotiabank upped their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Bio-Techne Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 81.97, a P/E/G ratio of 5.80 and a beta of 1.27. The business has a 50-day simple moving average of $74.22 and a two-hundred day simple moving average of $74.51.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. Equities analysts forecast that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Bio-Techne’s payout ratio is 34.04%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TECH. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Bio-Techne by 60.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,122 shares of the biotechnology company’s stock valued at $2,158,000 after purchasing an additional 11,371 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Bio-Techne during the third quarter worth about $1,188,000. APG Asset Management N.V. boosted its stake in shares of Bio-Techne by 9.8% in the 2nd quarter. APG Asset Management N.V. now owns 81,138 shares of the biotechnology company’s stock valued at $5,424,000 after purchasing an additional 7,275 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Bio-Techne during the 3rd quarter valued at approximately $43,000. Finally, Broadcrest Asset Management LLC increased its position in Bio-Techne by 100.0% during the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock worth $15,986,000 after purchasing an additional 100,000 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

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.