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.
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