Bio-Techne Corp $TECH Shares Sold by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC reduced its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 38.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 636,823 shares of the biotechnology company’s stock after selling 390,508 shares during the period. Bio-Techne accounts for about 1.7% of Aristotle Atlantic Partners LLC’s holdings, making the stock its 15th biggest holding. Aristotle Atlantic Partners LLC owned approximately 0.41% of Bio-Techne worth $37,452,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Impax Asset Management Group plc purchased a new stake in shares of Bio-Techne in the 4th quarter worth about $11,468,000. Hollow Brook Wealth Management LLC increased its stake in shares of Bio-Techne by 69.7% during the 3rd quarter. Hollow Brook Wealth Management LLC now owns 174,677 shares of the biotechnology company’s stock valued at $9,717,000 after acquiring an additional 71,739 shares during the last quarter. Border to Coast Pensions Partnership Ltd acquired a new stake in Bio-Techne during the 4th quarter worth approximately $15,023,000. TD Asset Management Inc increased its position in Bio-Techne by 53.5% during the 3rd quarter. TD Asset Management Inc now owns 104,507 shares of the biotechnology company’s stock worth $5,814,000 after purchasing an additional 36,424 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Bio-Techne by 316.7% during the 4th quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company’s stock worth $41,373,000 after purchasing an additional 534,676 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

TECH has been the topic of several research analyst reports. Weiss Ratings upgraded Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Zacks Research lowered Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Piper Sandler started coverage on shares of Bio-Techne in a research note on Thursday, June 11th. They set a “neutral” rating and a $65.00 target price for the company. Robert W. Baird set a $49.00 price target on Bio-Techne in a research report on Thursday, May 7th. Finally, Wells Fargo & Company decreased their price objective on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.15.

Bio-Techne Stock Down 1.8%

TECH stock opened at $55.00 on Thursday. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $52.28 and a two-hundred day moving average price of $57.15. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 79.71, a P/E/G ratio of 5.32 and a beta of 1.37. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16.

Bio-Techne (NASDAQ:TECH) last released its 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). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. Analysts anticipate that Bio-Techne Corp will post 1.68 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

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.