Bio-Techne Corp $TECH Stock Position Reduced by WCM Investment Management LLC

WCM Investment Management LLC decreased its position in Bio-Techne Corp (NASDAQ:TECH) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,544 shares of the biotechnology company’s stock after selling 7,998 shares during the quarter. WCM Investment Management LLC owned 0.13% of Bio-Techne worth $10,332,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TECH. Asset Management One Co. Ltd. boosted its holdings in Bio-Techne by 2.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock worth $341,000 after purchasing an additional 153 shares during the period. Accredited Investors Inc. raised its holdings in shares of Bio-Techne by 2.7% during the fourth quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock worth $356,000 after purchasing an additional 161 shares during the period. Allworth Financial LP raised its holdings in shares of Bio-Techne by 28.4% during the third quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 174 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Bio-Techne by 3.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock worth $315,000 after buying an additional 181 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC lifted its position in shares of Bio-Techne by 5.1% in the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company’s stock worth $208,000 after buying an additional 194 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TECH. Robert W. Baird boosted their price objective on shares of Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Piper Sandler started coverage on shares of Bio-Techne in a report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 target price on the stock. Deutsche Bank Aktiengesellschaft downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 target price for the company. in a research note on Friday, June 26th. Wells Fargo & Company dropped their price target on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Zacks Research downgraded Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.08.

Bio-Techne Stock Down 0.7%

Bio-Techne stock opened at $71.64 on Tuesday. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 103.83, a PEG ratio of 8.59 and a beta of 1.29. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $58.36 and its two-hundred day moving average price is $58.47. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.16.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. On average, analysts expect that Bio-Techne Corp will post 1.65 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, May 18th. Bio-Techne’s dividend 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.