Summit Creek Advisors LLC Sells 13,647 Shares of Bio-Techne Corp $TECH

Summit Creek Advisors LLC lowered its position in Bio-Techne Corp (NASDAQ:TECH) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 320,175 shares of the biotechnology company’s stock after selling 13,647 shares during the period. Bio-Techne comprises 2.3% of Summit Creek Advisors LLC’s holdings, making the stock its 20th largest position. Summit Creek Advisors LLC owned 0.20% of Bio-Techne worth $16,473,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of Bio-Techne by 5.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 4,300 shares of the biotechnology company’s stock valued at $253,000 after buying an additional 210 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bio-Techne by 0.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,005 shares of the biotechnology company’s stock valued at $1,994,000 after buying an additional 249 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Bio-Techne by 1.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 18,187 shares of the biotechnology company’s stock valued at $935,000 after buying an additional 261 shares in the last quarter. NorthRock Partners LLC increased its position in shares of Bio-Techne by 4.2% in the 1st quarter. NorthRock Partners LLC now owns 6,936 shares of the biotechnology company’s stock valued at $407,000 after buying an additional 277 shares in the last quarter. Finally, GC Wealth Management RIA LLC increased its position in shares of Bio-Techne by 2.5% in the 2nd quarter. GC Wealth Management RIA LLC now owns 11,533 shares of the biotechnology company’s stock valued at $593,000 after buying an additional 284 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TECH. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. Citigroup raised shares of Bio-Techne from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $70.00 in a research note on Thursday, August 21st. Royal Bank Of Canada raised shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 3rd. Finally, TD Cowen upped their target price on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $70.58.

Bio-Techne Trading Down 1.9%

Bio-Techne stock opened at $59.94 on Thursday. The firm has a 50-day moving average of $57.50 and a 200-day moving average of $53.66. Bio-Techne Corp has a one year low of $46.01 and a one year high of $80.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 130.31, a P/E/G ratio of 3.63 and a beta of 1.51.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The company had revenue of $286.56 million during the quarter, compared to the consensus estimate of $292.02 million. During the same period in the prior year, the business posted $0.42 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, November 17th. Bio-Techne’s dividend payout ratio (DPR) is 69.57%.

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.