Bio-Techne Corp $TECH Shares Sold by Jackson Square Partners LLC

Jackson Square Partners LLC cut its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 22.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,666 shares of the biotechnology company’s stock after selling 12,606 shares during the period. Jackson Square Partners LLC’s holdings in Bio-Techne were worth $2,485,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Segall Bryant & Hamill LLC increased its position in Bio-Techne by 9.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock valued at $29,100,000 after buying an additional 48,838 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Bio-Techne by 8.0% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock valued at $26,386,000 after acquiring an additional 35,165 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Bio-Techne by 2.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after purchasing an additional 41,180 shares during the last quarter. 4D Advisors LLC acquired a new stake in Bio-Techne in the 2nd quarter worth approximately $2,058,000. Finally, Thrivent Financial for Lutherans grew its position in Bio-Techne by 27.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock worth $11,529,000 after purchasing an additional 47,555 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $66.78 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 2.81. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 130.94, a PEG ratio of 4.61 and a beta of 1.48. The firm’s 50 day simple moving average is $63.30 and its 200-day simple moving average is $59.41. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $75.69.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $295.88 million for the quarter, compared to the consensus estimate of $290.20 million. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. Analysts expect that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 16th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio (DPR) is 65.31%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TECH shares. Stifel Nicolaus set a $65.00 price target on shares of Bio-Techne and gave the stock a “hold” rating in a report on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of Bio-Techne in a research note on Wednesday, January 21st. Wells Fargo & Company boosted their price target on Bio-Techne from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday. Zacks Research cut Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Finally, Evercore upped their target price on Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $72.77.

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.