HB Wealth Management LLC Sells 15,466 Shares of Bio-Techne Corp $TECH

HB Wealth Management LLC lessened its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 27.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,938 shares of the biotechnology company’s stock after selling 15,466 shares during the quarter. HB Wealth Management LLC’s holdings in Bio-Techne were worth $2,222,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TECH. Norges Bank purchased a new stake in Bio-Techne in the second quarter worth approximately $98,238,000. Worldquant Millennium Advisors LLC bought a new position in shares of Bio-Techne during the 2nd quarter valued at $31,421,000. Quantinno Capital Management LP boosted its stake in shares of Bio-Techne by 548.6% in the 2nd quarter. Quantinno Capital Management LP now owns 653,411 shares of the biotechnology company’s stock worth $33,618,000 after buying an additional 552,673 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Bio-Techne in the 2nd quarter worth $26,659,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Bio-Techne by 5,114.7% in the second quarter. Squarepoint Ops LLC now owns 492,892 shares of the biotechnology company’s stock worth $25,359,000 after acquiring an additional 483,440 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Trading Up 1.7%

Shares of NASDAQ:TECH opened at $65.70 on Friday. The stock has a 50 day moving average of $60.62 and a 200 day moving average of $57.32. The company has a market cap of $10.24 billion, a PE ratio of 134.08, a price-to-earnings-growth ratio of 4.53 and a beta of 1.47. Bio-Techne Corp has a 12-month low of $46.01 and a 12-month high of $79.28. 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 issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $286.56 million for the quarter, compared to the consensus estimate of $292.02 million. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, equities research analysts expect that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

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

Wall Street Analyst Weigh In

TECH has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $72.00 target price on Bio-Techne and gave the company a “buy” rating in a report on Friday, December 12th. Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Cowen restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, October 14th. UBS Group upped their target price on shares of Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.57.

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.