HB Wealth Management LLC Sells 15,466 Shares of Bio-Techne Corp $TECH

HB Wealth Management LLC cut its stake in Bio-Techne Corp (NASDAQ:TECH) by 27.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,938 shares of the biotechnology company’s stock after selling 15,466 shares during the period. HB Wealth Management LLC’s holdings in Bio-Techne were worth $2,222,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Bio-Techne by 109.7% in the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 237 shares in the last quarter. Allworth Financial LP grew its stake in Bio-Techne by 68.1% in the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 248 shares during the period. Sound Income Strategies LLC bought a new position in Bio-Techne in the third quarter worth $37,000. EverSource Wealth Advisors LLC lifted 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 buying an additional 562 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Bio-Techne by 134.6% during the second quarter. First Horizon Advisors Inc. now owns 868 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 498 shares during the period. 98.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TECH has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Bio-Techne from $59.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. TD Cowen boosted their price objective on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Evercore ISI set a $62.00 target price on shares of Bio-Techne and gave the company an “in-line” rating in a research note on Monday, January 5th. Zacks Research lowered shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Finally, Cowen restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.57.

Bio-Techne Stock Up 1.7%

Shares of Bio-Techne stock opened at $65.70 on Friday. The company has a 50-day simple moving average of $60.62 and a two-hundred day simple moving average of $57.32. The stock has a market capitalization of $10.24 billion, a PE ratio of 134.08, a price-to-earnings-growth ratio of 4.53 and a beta of 1.47. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $79.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.81 and a current ratio of 4.22.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The company had revenue of $286.56 million during the quarter, compared to the consensus estimate of $292.02 million. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were paid a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne’s payout ratio is currently 65.31%.

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.