Bio-Techne Corp $TECH Stake Cut by Bamco Inc. NY

Bamco Inc. NY cut its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 51.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,207,499 shares of the biotechnology company’s stock after selling 1,288,824 shares during the quarter. Bamco Inc. NY owned 0.77% of Bio-Techne worth $71,013,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in Bio-Techne in the fourth quarter worth $29,000. eCIO Inc. acquired a new stake in Bio-Techne in the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC acquired a new stake in Bio-Techne in the third quarter worth $32,000. iSAM Funds UK Ltd acquired a new stake in Bio-Techne in the third quarter worth $33,000. Finally, EverSource Wealth Advisors LLC increased its position in Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after buying an additional 562 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Performance

Shares of TECH opened at $55.00 on Thursday. Bio-Techne Corp has a one year low of $43.19 and a one year high of $72.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The company has a market capitalization of $8.61 billion, a PE ratio of 79.71, a price-to-earnings-growth ratio of 5.32 and a beta of 1.37. The company’s fifty day moving average price is $52.28 and its 200 day moving average price is $57.15.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $316.11 million. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s revenue was down 1.5% on a year-over-year basis. As a group, analysts expect that Bio-Techne Corp will post 1.68 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 $0.08 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

Analyst Ratings Changes

A number of brokerages have recently commented on TECH. Royal Bank Of Canada set a $62.00 price target on Bio-Techne and gave the company an “outperform” rating in a report on Thursday, May 14th. TD Cowen restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Evercore set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. Zacks Research cut Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Finally, Robert W. Baird set a $49.00 target price on Bio-Techne in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.15.

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.