Brown Advisory Inc. Has $90.83 Million Holdings in Bio-Techne Corp $TECH

Brown Advisory Inc. reduced its position in Bio-Techne Corp (NASDAQ:TECH) by 17.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,544,528 shares of the biotechnology company’s stock after selling 321,073 shares during the quarter. Brown Advisory Inc.’s holdings in Bio-Techne were worth $90,834,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Danske Bank A S acquired a new position in Bio-Techne in the 4th quarter worth about $29,000. eCIO Inc. acquired a new position in shares of Bio-Techne during the 4th quarter valued at about $30,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne during the 3rd quarter valued at about $32,000. iSAM Funds UK Ltd acquired a new position in shares of Bio-Techne during the 3rd quarter valued at about $33,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Bio-Techne during the 4th quarter valued at about $39,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

TECH stock opened at $54.00 on Monday. The company has a market cap of $8.45 billion, a P/E ratio of 78.26, a PEG ratio of 5.09 and a beta of 1.37. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $52.13 and a 200-day moving average of $57.35.

Bio-Techne (NASDAQ:TECH) last released its 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 for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. As a group, equities research analysts expect that Bio-Techne Corp will post 1.7 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid 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 payout ratio is 46.38%.

Analyst Ratings Changes

A number of research firms have issued reports on TECH. Robert W. Baird set a $49.00 target price on Bio-Techne in a report on Thursday, May 7th. Citigroup reduced their price objective on Bio-Techne from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Evercore set a $50.00 price objective on Bio-Techne in a research report on Thursday, May 7th. Zacks Research downgraded Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Finally, Piper Sandler assumed coverage on Bio-Techne in a research report on Thursday. They set a “neutral” rating and a $65.00 target price for the company. One equities research 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. Based on data from MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus price target of $65.15.

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.