Segall Bryant & Hamill LLC Reduces Stake in Bio-Techne Corp $TECH

Segall Bryant & Hamill LLC lessened its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 11.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 428,507 shares of the biotechnology company’s stock after selling 57,502 shares during the period. Segall Bryant & Hamill LLC’s holdings in Bio-Techne were worth $22,394,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Intrinsic Edge Capital Management LLC acquired a new position in Bio-Techne in the first quarter valued at approximately $5,749,000. Edgestream Partners L.P. purchased a new position in Bio-Techne in the first quarter valued at approximately $292,000. California State Teachers Retirement System raised its holdings in Bio-Techne by 24.1% during the first quarter. California State Teachers Retirement System now owns 184,164 shares of the biotechnology company’s stock worth $9,624,000 after purchasing an additional 35,772 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. raised its holdings in Bio-Techne by 131.4% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company’s stock worth $177,266,000 after purchasing an additional 1,926,066 shares in the last quarter. Finally, American Capital Management Inc. lifted its position in shares of Bio-Techne by 8.5% during the 1st quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company’s stock worth $53,364,000 after buying an additional 79,979 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

TECH has been the subject of several research analyst reports. William Blair cut shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Evercore lowered shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. TD Cowen cut shares of Bio-Techne from a “buy” rating to a “hold” rating and boosted their price target for the company from $65.00 to $73.00 in a research report on Monday, June 29th. Royal Bank Of Canada downgraded shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $62.00 to $73.00 in a research note on Thursday, July 9th. Finally, Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $70.00 to $73.00 in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bio-Techne presently has a consensus rating of “Hold” and a consensus target price of $68.08.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $72.09 on Friday. The firm’s fifty day simple moving average is $63.04 and its 200-day simple moving average is $59.08. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.36. The stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 104.48, a PEG ratio of 8.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The business had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. During the same quarter in the prior year, the company earned $0.56 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts forecast that Bio-Techne Corp will post 1.65 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, May 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Bio-Techne’s dividend payout ratio is 46.38%.

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.