Bio-Techne (NASDAQ:TECH) Reaches New 1-Year Low – Time to Sell?

Bio-Techne Corp (NASDAQ:TECH)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $45.11 and last traded at $44.9130, with a volume of 865888 shares changing hands. The stock had previously closed at $47.42.

Analysts Set New Price Targets

TECH has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. TD Cowen restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, March 17th. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Citigroup decreased their target price 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. Finally, Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and a consensus target price of $66.77.

Bio-Techne Stock Performance

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 company has a 50 day moving average of $53.78 and a 200 day moving average of $59.21. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 64.44, a PEG ratio of 3.59 and a beta of 1.41.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The business had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. During the same quarter last year, the firm posted $0.56 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Bio-Techne Corp will post 1.72 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is currently 46.38%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TECH. Goldman Sachs Group Inc. lifted its holdings in shares of Bio-Techne by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after purchasing an additional 113,634 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Bio-Techne by 40.0% in the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock worth $783,000 after purchasing an additional 3,814 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 purchasing an additional 562 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Bio-Techne by 1,085.7% in the 2nd quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock worth $5,424,000 after purchasing an additional 96,527 shares during the last quarter. Finally, Natixis increased its position in Bio-Techne by 82.6% in the 2nd quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock valued at $1,286,000 after acquiring an additional 11,306 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Company Profile

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.