Jackson Square Partners LLC Sells 12,606 Shares of Bio-Techne Corp $TECH

Jackson Square Partners LLC lessened its holdings in Bio-Techne Corp (NASDAQ:TECH) by 22.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,666 shares of the biotechnology company’s stock after selling 12,606 shares during the period. Jackson Square Partners LLC’s holdings in Bio-Techne were worth $2,485,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Segall Bryant & Hamill LLC grew its position in Bio-Techne by 9.5% in 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 during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Bio-Techne by 8.0% during 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Bio-Techne by 2.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after purchasing an additional 41,180 shares during the period. 4D Advisors LLC bought a new position in shares of Bio-Techne in the second quarter worth about $2,058,000. Finally, Thrivent Financial for Lutherans increased its stake in Bio-Techne by 27.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock worth $11,529,000 after buying an additional 47,555 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Up 1.4%

Bio-Techne stock opened at $66.78 on Friday. The company has a quick ratio of 2.81, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. The firm has a market cap of $10.45 billion, a P/E ratio of 130.94, a P/E/G ratio of 4.61 and a beta of 1.48. The business has a fifty day moving average of $63.30 and a two-hundred day moving average of $59.41. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $75.69.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The firm had revenue of $295.88 million during the quarter, compared to analyst estimates of $290.20 million. During the same period in the previous year, the company posted $0.42 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 16th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, February 13th. Bio-Techne’s dividend payout ratio is presently 65.31%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TECH shares. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on shares of Bio-Techne and gave the company a “buy” rating in a research report on Friday, December 12th. UBS Group reiterated a “buy” rating and issued a $79.00 price target (up previously from $70.00) on shares of Bio-Techne in a report on Thursday. Robert W. Baird set a $70.00 price objective on Bio-Techne in a report on Thursday. TD Cowen restated a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Thursday. Finally, Wells Fargo & Company upped their target price on Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

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.