Aristotle Atlantic Partners LLC Sells 390,508 Shares of Bio-Techne Corp $TECH

Aristotle Atlantic Partners LLC decreased its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 38.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 636,823 shares of the biotechnology company’s stock after selling 390,508 shares during the period. Bio-Techne accounts for about 1.7% of Aristotle Atlantic Partners LLC’s holdings, making the stock its 15th largest holding. Aristotle Atlantic Partners LLC’s holdings in Bio-Techne were worth $37,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TECH. Danske Bank A S bought a new position in shares of Bio-Techne in the 4th quarter worth approximately $29,000. eCIO Inc. purchased a new stake in shares of Bio-Techne in the 4th quarter worth approximately $30,000. Measured Wealth Private Client Group LLC purchased a new stake in Bio-Techne during the 3rd quarter valued at $32,000. iSAM Funds UK Ltd purchased a new stake in Bio-Techne during the 3rd quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

TECH has been the topic of a number of recent research reports. Robert W. Baird set a $49.00 target price on Bio-Techne in a report on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Wells Fargo & Company decreased their target price on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, Stifel Nicolaus set a $50.00 price target on Bio-Techne in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.15.

Bio-Techne Stock Performance

NASDAQ TECH opened at $55.00 on Thursday. The stock has a 50-day simple moving average of $52.28 and a two-hundred day simple moving average of $57.15. The firm has a market capitalization of $8.61 billion, a P/E ratio of 79.71, a PEG ratio of 5.32 and a beta of 1.37. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 EPS. On average, equities analysts forecast that Bio-Techne Corp will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, May 18th. Bio-Techne’s payout ratio is 46.38%.

Bio-Techne 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.