Bio-Techne Corp $TECH Shares Sold by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT lessened its holdings in Bio-Techne Corp (NASDAQ:TECH) by 80.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,242 shares of the biotechnology company’s stock after selling 157,998 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Bio-Techne were worth $1,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Danske Bank A S acquired a new position in Bio-Techne during the 4th quarter worth approximately $29,000. eCIO Inc. acquired a new stake in Bio-Techne in the fourth quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC acquired a new stake in Bio-Techne in the third quarter valued at approximately $32,000. iSAM Funds UK Ltd purchased a new stake in shares of Bio-Techne during the third quarter valued at approximately $33,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Bio-Techne during the fourth quarter worth $39,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of NASDAQ TECH opened at $71.60 on Monday. The stock’s 50 day moving average price is $60.48 and its two-hundred day moving average price is $58.79. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.16. The stock has a market capitalization of $11.21 billion, a P/E ratio of 103.77, a PEG ratio of 8.53 and a beta of 1.29. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. Bio-Techne’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 earnings per share. On average, analysts anticipate that Bio-Techne Corp will post 1.65 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stephens set a $73.00 target price on shares of Bio-Techne and gave the company an “equal weight” rating in a research note on Friday, June 26th. Royal Bank Of Canada lowered shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $62.00 to $73.00 in a report on Thursday, July 9th. Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a research report on Thursday, May 7th. Benchmark downgraded Bio-Techne from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Piper Sandler initiated coverage on Bio-Techne in a research report on Thursday, June 11th. They set a “neutral” rating and a $65.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.08.

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.