Sepio Capital LP Sells 11,733 Shares of Bio-Techne Corp $TECH

Sepio Capital LP lowered its holdings in Bio-Techne Corp (NASDAQ:TECH) by 78.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,132 shares of the biotechnology company’s stock after selling 11,733 shares during the period. Sepio Capital LP’s holdings in Bio-Techne were worth $227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. S&CO Inc. acquired a new position in Bio-Techne during the 2nd quarter worth $5,412,000. HBK Investments L P acquired a new stake in shares of Bio-Techne in the 2nd quarter worth approximately $482,186,000. American Capital Management Inc. increased its stake in shares of Bio-Techne by 8.5% during the first quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company’s stock valued at $53,364,000 after acquiring an additional 79,979 shares during the period. Maven Securities LTD acquired a new stake in Bio-Techne in the second quarter worth approximately $3,865,000. Finally, Squarepoint Ops LLC raised its stake in shares of Bio-Techne by 2,094.5% in the 2nd quarter. Squarepoint Ops LLC now owns 91,268 shares of the biotechnology company’s stock worth $6,448,000 after buying an additional 87,109 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TECH. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. TD Cowen lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and raised their price objective for the stock from $65.00 to $73.00 in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a research report on Friday, June 26th. Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, Royal Bank Of Canada downgraded Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $62.00 to $73.00 in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $68.92.

Bio-Techne Stock Performance

TECH stock traded down $0.07 during trading on Friday, reaching $72.55. 1,898,363 shares of the stock were exchanged, compared to its average volume of 2,885,220. The stock has a 50 day simple moving average of $72.42 and a 200-day simple moving average of $64.50. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.69. The company has a market capitalization of $11.38 billion, a P/E ratio of 63.09, a price-to-earnings-growth ratio of 8.97 and a beta of 1.30.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $321.19 million during the quarter, compared to analysts’ expectations of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%. Bio-Techne’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. As a group, sell-side analysts anticipate that Bio-Techne Corp will post 1.70 earnings per share for the current year.

Bio-Techne Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were given a dividend of $0.65 per share. The ex-dividend date was Monday, August 24th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. Bio-Techne’s dividend payout ratio (DPR) is currently 27.83%.

Bio-Techne Company Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research and diagnostic products for biotechnology, pharmaceutical, academic, clinical and other laboratory customers. The company supports biological research, drug discovery and development, and diagnostic testing through a portfolio of reagents, instruments and analytical technologies.

Its products include proteins, antibodies, immunoassays, flow cytometry reagents, molecular biology tools and cell culture materials.