BLI Banque de Luxembourg Investments Sells 37,500 Shares of Bio-Techne Corp $TECH

BLI Banque de Luxembourg Investments trimmed its stake in Bio-Techne Corp (NASDAQ:TECH) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,100 shares of the biotechnology company’s stock after selling 37,500 shares during the period. BLI Banque de Luxembourg Investments’ holdings in Bio-Techne were worth $11,713,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Bio-Techne by 12.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after purchasing an additional 113,634 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Bio-Techne by 40.0% during the first quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock worth $783,000 after purchasing an additional 3,814 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 562 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Bio-Techne by 1,085.7% during the second quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock worth $5,424,000 after purchasing an additional 96,527 shares during the last quarter. Finally, Natixis grew its holdings in shares of Bio-Techne by 82.6% during the second quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock worth $1,286,000 after purchasing an additional 11,306 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada set a $62.00 price target on Bio-Techne and gave the company an “outperform” rating in a research note on Thursday, May 14th. Wells Fargo & Company cut their price target on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a research note on Thursday, May 7th. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Evercore set a $50.00 price target on Bio-Techne in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.17.

Bio-Techne Trading Up 1.3%

NASDAQ TECH opened at $52.65 on Tuesday. The firm has a market cap of $8.24 billion, a P/E ratio of 76.31, a P/E/G ratio of 4.97 and a beta of 1.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The stock’s 50-day moving average is $52.01 and its 200-day moving average is $57.54. Bio-Techne Corp has a one year low of $43.19 and a one year high of $72.16.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $311.42 million for 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 for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. Sell-side analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

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