Bamco Inc. NY Sells 298,824 Shares of Bio-Techne Corp $TECH

Bamco Inc. NY reduced its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 10.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,496,323 shares of the biotechnology company’s stock after selling 298,824 shares during the quarter. Bamco Inc. NY’s holdings in Bio-Techne were worth $138,870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Bio-Techne by 109.7% in the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after buying an additional 237 shares during the period. iSAM Funds UK Ltd purchased a new position in shares of Bio-Techne during the third quarter valued at $33,000. Allworth Financial LP increased its stake in shares of Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 248 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Bio-Techne in the third quarter valued at about $37,000. Finally, Federated Hermes Inc. bought a new stake in shares of Bio-Techne in the third quarter valued at about $37,000. 98.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TECH. Robert W. Baird set a $70.00 target price on shares of Bio-Techne in a report on Thursday, February 5th. Argus boosted their price target on shares of Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $72.00 price target on shares of Bio-Techne and gave the stock a “buy” rating in a research report on Friday, December 12th. Evercore increased their price objective on shares of Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Finally, TD Cowen reissued a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and an average target price of $72.77.

Bio-Techne Price Performance

TECH opened at $50.85 on Friday. The firm has a market capitalization of $7.96 billion, a PE ratio of 99.71, a price-to-earnings-growth ratio of 3.38 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 3.08. The business’s 50-day moving average is $62.23 and its two-hundred day moving average is $59.91. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $72.16.

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

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne’s payout ratio is 62.75%.

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.