Bio-Techne Corp $TECH Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC cut its holdings in Bio-Techne Corp (NASDAQ:TECH) by 7.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 282,580 shares of the biotechnology company’s stock after selling 21,145 shares during the period. Bio-Techne comprises approximately 2.6% of Summit Creek Advisors LLC’s holdings, making the stock its 8th biggest position. Summit Creek Advisors LLC’s holdings in Bio-Techne were worth $16,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. boosted its stake in Bio-Techne by 2.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock valued at $341,000 after purchasing an additional 153 shares during the period. Accredited Investors Inc. boosted its stake in Bio-Techne by 2.7% during the 4th quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock valued at $356,000 after purchasing an additional 161 shares during the period. Allworth Financial LP boosted its stake in Bio-Techne by 28.4% during the 3rd quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 174 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Bio-Techne by 3.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock valued at $315,000 after purchasing an additional 181 shares during the period. Finally, Angeles Wealth Management LLC boosted its stake in Bio-Techne by 3.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company’s stock valued at $317,000 after purchasing an additional 189 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TECH shares. Wells Fargo & Company reduced their target price on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Royal Bank Of Canada set a $62.00 target price on shares of Bio-Techne and gave the company an “outperform” rating in a research note on Thursday, May 14th. Robert W. Baird set a $49.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. Finally, UBS Group reissued a “buy” rating and set a $79.00 target price (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $65.92.

Bio-Techne Stock Up 2.7%

TECH stock opened at $46.70 on Thursday. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.16. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 67.68, a price-to-earnings-growth ratio of 3.54 and a beta of 1.41. The firm’s 50-day moving average is $52.42 and its two-hundred day moving average is $58.41. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS 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 company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. During the same quarter last year, the firm posted $0.56 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that Bio-Techne Corp will post 1.69 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, May 18th. Bio-Techne’s payout ratio is 46.38%.

Bio-Techne Company Profile

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.