Ownership Capital B.V. Cuts Stock Position in Bio-Techne Corp $TECH

Ownership Capital B.V. trimmed its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 89.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,257 shares of the biotechnology company’s stock after selling 644,583 shares during the period. Bio-Techne accounts for about 2.4% of Ownership Capital B.V.’s holdings, making the stock its 18th biggest holding. Ownership Capital B.V.’s holdings in Bio-Techne were worth $4,298,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

TECH has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, January 21st. Zacks Research downgraded Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Argus boosted their price target on Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. TD Cowen restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft set a $72.00 target price on Bio-Techne and gave the company a “buy” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.57.

Bio-Techne Stock Performance

TECH stock opened at $67.63 on Tuesday. The stock’s 50 day simple moving average is $62.62 and its 200 day simple moving average is $58.60. Bio-Techne Corp has a 12-month low of $46.01 and a 12-month high of $79.28. The firm has a market cap of $10.54 billion, a P/E ratio of 138.02, a P/E/G ratio of 4.70 and a beta of 1.47. 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 released its 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 firm had revenue of $286.56 million during 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 firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, equities research analysts predict that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

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

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.