Segall Bryant & Hamill LLC Lowers Holdings in Bio-Techne Corp (TECH)

Segall Bryant & Hamill LLC lowered its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 457,217 shares of the biotechnology company’s stock after selling 93,193 shares during the quarter. Bio-Techne accounts for about 1.3% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 14th largest position. Segall Bryant & Hamill LLC owned about 1.22% of Bio-Techne worth $55,273,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TECH. Eaton Vance Management raised its stake in shares of Bio-Techne by 0.4% in the second quarter. Eaton Vance Management now owns 2,566 shares of the biotechnology company’s stock valued at $302,000 after acquiring an additional 9 shares during the period. Roberts Glore & Co. Inc. IL increased its stake in Bio-Techne by 0.3% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 8,332 shares of the biotechnology company’s stock worth $979,000 after buying an additional 25 shares during the period. 1st Global Advisors Inc. increased its stake in Bio-Techne by 0.7% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,542 shares of the biotechnology company’s stock worth $651,000 after buying an additional 37 shares during the period. State of Wisconsin Investment Board increased its stake in Bio-Techne by 0.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 7,392 shares of the biotechnology company’s stock worth $869,000 after buying an additional 50 shares during the period. Finally, World Asset Management Inc increased its stake in Bio-Techne by 4.1% in the 2nd quarter. World Asset Management Inc now owns 2,708 shares of the biotechnology company’s stock worth $318,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Several brokerages have issued reports on TECH. Leerink Swann reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday. BidaskClub cut shares of Bio-Techne from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Saturday, November 4th. Citigroup reiterated a “buy” rating and set a $115.00 target price (down from $125.00) on shares of Bio-Techne in a report on Tuesday, October 24th. Finally, Deutsche Bank set a $145.00 target price on shares of Bio-Techne and gave the stock a “buy” rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Bio-Techne currently has a consensus rating of “Buy” and a consensus target price of $134.33.

Shares of Bio-Techne Corp (NASDAQ TECH) opened at $128.72 on Thursday. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $136.39. The firm has a market cap of $4,812.77, a PE ratio of 37.02, a PEG ratio of 3.21 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. Bio-Techne had a net margin of 12.54% and a return on equity of 14.11%. The business had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. During the same period last year, the business earned $0.84 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. sell-side analysts predict that Bio-Techne Corp will post 3.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, November 9th. Bio-Techne’s dividend payout ratio is currently 66.32%.

In other news, Director Robert V. Baumgartner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total value of $650,900.00. Following the sale, the director now directly owns 12,712 shares in the company, valued at approximately $1,654,848.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 5,200 shares of company stock worth $675,190 over the last 90 days. Company insiders own 3.40% of the company’s stock.

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Bio-Techne Company Profile

Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.

Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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