Bio-Techne Corp $TECH Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC trimmed its holdings in Bio-Techne Corp (NASDAQ:TECH) by 34.2% during the third quarter, HoldingsChannel.com reports. The fund owned 1,035,930 shares of the biotechnology company’s stock after selling 537,673 shares during the period. Bio-Techne makes up approximately 2.4% of Brown Capital Management LLC’s holdings, making the stock its 19th largest holding. Brown Capital Management LLC’s holdings in Bio-Techne were worth $57,629,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Bio-Techne by 109.7% during the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 237 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after buying an additional 248 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Bio-Techne by 506.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 562 shares during the period. Sound Income Strategies LLC purchased a new position in Bio-Techne during the third quarter worth about $37,000. Finally, Federated Hermes Inc. acquired a new stake in Bio-Techne in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Up 1.8%

Bio-Techne stock opened at $65.25 on Tuesday. The stock has a 50-day moving average price of $63.17 and a 200 day moving average price of $59.05. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $79.28. The stock has a market cap of $10.17 billion, a PE ratio of 133.17, a P/E/G ratio of 4.42 and a beta of 1.48. The company has a current ratio of 4.22, a quick ratio of 2.81 and a debt-to-equity ratio of 0.15.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $286.56 million for the quarter, compared to analysts’ expectations of $292.02 million. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. Equities research analysts predict that Bio-Techne Corp will post 1.67 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, November 28th. Investors of record on Monday, November 17th were given a dividend of $0.08 per share. The ex-dividend date was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Bio-Techne’s dividend payout ratio (DPR) is 65.31%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Argus raised their price target on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Zacks Research downgraded Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on shares of Bio-Techne and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Wells Fargo & Company lifted 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.57.

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.