Bio-Techne Corp $TECH Position Cut by Ownership Capital B.V.

Ownership Capital B.V. lowered its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 89.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 77,257 shares of the biotechnology company’s stock after selling 644,583 shares during the period. Bio-Techne accounts for 2.4% of Ownership Capital B.V.’s portfolio, making the stock its 18th biggest holding. Ownership Capital B.V.’s holdings in Bio-Techne were worth $4,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Segall Bryant & Hamill LLC raised its stake in Bio-Techne by 9.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock valued at $29,100,000 after acquiring an additional 48,838 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in Bio-Techne by 8.0% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock worth $26,386,000 after purchasing an additional 35,165 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Bio-Techne by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after buying an additional 41,180 shares during the period. Park Avenue Securities LLC bought a new stake in shares of Bio-Techne during the 2nd quarter worth about $270,000. Finally, 4D Advisors LLC acquired a new stake in shares of Bio-Techne in the 2nd quarter worth approximately $2,058,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Price Performance

TECH stock opened at $67.63 on Tuesday. Bio-Techne Corp has a one year low of $46.01 and a one year high of $79.28. The firm has a 50-day moving average of $62.62 and a two-hundred day moving average of $58.60. The firm has a market capitalization of $10.54 billion, a PE ratio of 138.02, a P/E/G ratio of 4.70 and a beta of 1.47. The company has a current ratio of 4.22, a quick ratio of 2.81 and a debt-to-equity ratio of 0.15.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $286.56 million for the quarter, compared to analyst estimates of $292.02 million. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. On average, analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, November 17th. Bio-Techne’s dividend payout ratio (DPR) is 65.31%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group boosted their target price on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $72.00 target price on Bio-Techne and gave the stock a “buy” rating in a report on Friday, December 12th. Zacks Research downgraded shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Argus raised their price objective on shares of Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.57.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.