Bio-Techne Corp $TECH Shares Sold by Blair William & Co. IL

Blair William & Co. IL decreased its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,866 shares of the biotechnology company’s stock after selling 3,129 shares during the quarter. Blair William & Co. IL owned 0.06% of Bio-Techne worth $5,087,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TECH. SG Americas Securities LLC lifted its holdings in Bio-Techne by 602.1% in the first quarter. SG Americas Securities LLC now owns 49,154 shares of the biotechnology company’s stock valued at $2,882,000 after acquiring an additional 42,153 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Bio-Techne by 20.9% in the first quarter. Assenagon Asset Management S.A. now owns 52,339 shares of the biotechnology company’s stock valued at $3,069,000 after acquiring an additional 9,041 shares during the period. CX Institutional acquired a new position in Bio-Techne in the first quarter valued at approximately $27,000. Azzad Asset Management Inc. ADV lifted its holdings in Bio-Techne by 1.6% in the first quarter. Azzad Asset Management Inc. ADV now owns 46,753 shares of the biotechnology company’s stock valued at $2,741,000 after acquiring an additional 737 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Bio-Techne by 21.2% in the first quarter. Exchange Traded Concepts LLC now owns 2,803 shares of the biotechnology company’s stock valued at $164,000 after acquiring an additional 490 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Down 2.1%

Shares of TECH opened at $58.66 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46. Bio-Techne Corp has a one year low of $46.01 and a one year high of $80.80. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 127.52, a PEG ratio of 3.74 and a beta of 1.48. The stock has a 50 day moving average price of $54.47 and a 200 day moving average price of $52.46.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The firm had revenue of $316.96 million during the quarter, compared to analysts’ expectations of $315.14 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 18th. Bio-Techne’s dividend payout ratio is presently 69.57%.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of analyst reports. Evercore ISI boosted their price target on Bio-Techne from $60.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. TD Cowen assumed coverage on Bio-Techne in a report on Wednesday, July 9th. They issued a “buy” rating and a $65.00 price target for the company. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Techne in a research note on Wednesday, October 8th. Finally, Stephens raised Bio-Techne to a “strong-buy” rating and set a $65.00 target price for the company in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued 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 $70.17.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.