Bio-Techne Corp $TECH Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC decreased its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 3.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 198,544 shares of the biotechnology company’s stock after selling 7,998 shares during the period. WCM Investment Management LLC’s holdings in Bio-Techne were worth $10,332,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in Bio-Techne by 12.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after buying an additional 113,634 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Bio-Techne by 40.0% in the first quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after buying an additional 3,814 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 562 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Bio-Techne by 1,085.7% during the 2nd quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock valued at $5,424,000 after acquiring an additional 96,527 shares during the last quarter. Finally, Natixis boosted its stake in shares of Bio-Techne by 82.6% during the 2nd quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock worth $1,286,000 after acquiring an additional 11,306 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Piper Sandler began coverage on Bio-Techne in a report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 target price on the stock. Benchmark downgraded Bio-Techne from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Evercore lowered Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Stifel Nicolaus set a $50.00 price objective on Bio-Techne in a report on Thursday, May 7th. Finally, Leerink Partners set a $73.00 target price on shares of Bio-Techne in a report on Thursday, June 25th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.08.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $71.64 on Tuesday. The stock has a market cap of $11.22 billion, a PE ratio of 103.83, a price-to-earnings-growth ratio of 8.59 and a beta of 1.29. The business has a fifty day simple moving average of $58.36 and a 200-day simple moving average of $58.47. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $311.42 million for 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 quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, sell-side analysts anticipate that Bio-Techne Corp will post 1.65 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Bio-Techne’s payout ratio is presently 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.