Bamco Inc. NY Sells 298,824 Shares of Bio-Techne Corp $TECH

Bamco Inc. NY decreased its stake in Bio-Techne Corp (NASDAQ:TECH) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,496,323 shares of the biotechnology company’s stock after selling 298,824 shares during the quarter. Bamco Inc. NY owned about 1.60% of Bio-Techne worth $138,870,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Bio-Techne by 109.7% during the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 237 shares during the period. Allworth Financial LP boosted its stake in Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after buying an additional 248 shares during the period. iSAM Funds UK Ltd bought a new position in Bio-Techne during the third quarter valued at $33,000. EverSource Wealth Advisors LLC increased its position in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 562 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in shares of Bio-Techne in the third quarter valued at $37,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 1.2%

NASDAQ:TECH opened at $50.85 on Friday. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 99.71, a price-to-earnings-growth ratio of 3.38 and a beta of 1.48. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $72.16. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $62.23 and a 200-day simple moving average of $59.91.

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

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 16th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne’s dividend payout ratio is currently 62.75%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TECH shares. Stifel Nicolaus set a $65.00 target price on shares of Bio-Techne and gave the stock a “hold” rating in a report on Thursday, February 5th. Citigroup reiterated a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. UBS Group reissued a “buy” rating and issued a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. Wells Fargo & Company raised their price objective on shares of Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Evercore boosted their target price on Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.77.

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.