Osterweis Capital Management Inc. Has $7.70 Million Stake in Bio-Techne Corp $TECH

Osterweis Capital Management Inc. lowered its position in Bio-Techne Corp (NASDAQ:TECH) by 43.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,591 shares of the biotechnology company’s stock after selling 117,100 shares during the period. Osterweis Capital Management Inc. owned 0.10% of Bio-Techne worth $7,696,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 248 shares during the last quarter. AlphaQuest LLC acquired a new position in Bio-Techne during the first quarter worth $34,000. EverSource Wealth Advisors LLC raised its holdings in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 562 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Bio-Techne by 134.6% in the second quarter. First Horizon Advisors Inc. now owns 868 shares of the biotechnology company’s stock worth $45,000 after buying an additional 498 shares during the last quarter. Finally, Hoese & Co LLP bought a new stake in shares of Bio-Techne during the 2nd quarter worth about $51,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TECH shares. Wells Fargo & Company raised their price objective on Bio-Techne from $59.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Argus lifted their price target on shares of Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Royal Bank Of Canada upgraded shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Bio-Techne in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.92.

Bio-Techne Trading Down 0.9%

Shares of TECH stock opened at $60.26 on Friday. The firm has a market capitalization of $9.39 billion, a P/E ratio of 122.98, a price-to-earnings-growth ratio of 3.98 and a beta of 1.46. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $79.28. The firm’s fifty day simple moving average is $61.41 and its 200 day simple moving average is $55.74. 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 posted 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 analyst estimates of $292.02 million. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. As a group, sell-side analysts predict that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.32 annualized dividend and a yield of 0.5%. Bio-Techne’s dividend payout ratio is 65.31%.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.