Corient Private Wealth LLC Has $16.53 Million Position in Bio-Techne Corp $TECH

Corient Private Wealth LLC cut its holdings in Bio-Techne Corp (NASDAQ:TECH) by 41.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 279,823 shares of the biotechnology company’s stock after selling 198,406 shares during the period. Corient Private Wealth LLC’s holdings in Bio-Techne were worth $16,534,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TECH. Impax Asset Management Group plc acquired a new stake in shares of Bio-Techne during the fourth quarter worth $11,468,000. Hollow Brook Wealth Management LLC lifted its stake in Bio-Techne by 69.7% in the third quarter. Hollow Brook Wealth Management LLC now owns 174,677 shares of the biotechnology company’s stock valued at $9,717,000 after buying an additional 71,739 shares during the period. Border to Coast Pensions Partnership Ltd acquired a new position in Bio-Techne in the fourth quarter valued at about $15,023,000. Principal Financial Group Inc. boosted its holdings in Bio-Techne by 316.7% during the fourth quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company’s stock worth $41,373,000 after buying an additional 534,676 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Bio-Techne during the third quarter worth about $2,428,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TECH. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Royal Bank Of Canada set a $62.00 price objective on shares of Bio-Techne and gave the company an “outperform” rating in a report on Thursday, May 14th. Zacks Research downgraded shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Citigroup cut their target price on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, TD Cowen reissued a “buy” rating on shares of Bio-Techne in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.15.

Bio-Techne Trading Up 1.2%

NASDAQ:TECH opened at $56.26 on Wednesday. The business’s 50-day simple moving average is $52.43 and its 200-day simple moving average is $56.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.16. The stock has a market capitalization of $8.81 billion, a PE ratio of 81.54, a price-to-earnings-growth ratio of 5.36 and a beta of 1.37.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data 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 company 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 was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share. Sell-side analysts expect that Bio-Techne Corp will post 1.66 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 is 46.38%.

Bio-Techne Profile

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.