SG Americas Securities LLC Sells 39,245 Shares of Bio-Techne Corp $TECH

SG Americas Securities LLC cut its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 79.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,909 shares of the biotechnology company’s stock after selling 39,245 shares during the quarter. SG Americas Securities LLC’s holdings in Bio-Techne were worth $510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Select Equity Group L.P. boosted its position in Bio-Techne by 129.8% during the first quarter. Select Equity Group L.P. now owns 5,366,003 shares of the biotechnology company’s stock valued at $314,609,000 after acquiring an additional 3,030,644 shares during the last quarter. RGM Capital LLC acquired a new position in shares of Bio-Techne in the 1st quarter valued at about $59,267,000. Price T Rowe Associates Inc. MD boosted its position in shares of Bio-Techne by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,375,279 shares of the biotechnology company’s stock valued at $666,933,000 after purchasing an additional 721,012 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Bio-Techne during the first quarter worth approximately $39,658,000. Finally, Maverick Capital Ltd. bought a new stake in Bio-Techne in the first quarter worth approximately $30,657,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TECH shares. UBS Group increased their price target on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wells Fargo & Company raised their price target on shares of Bio-Techne from $59.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. TD Cowen increased their price objective on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Finally, Royal Bank Of Canada upgraded Bio-Techne from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.92.

Bio-Techne Stock Down 1.9%

Bio-Techne stock opened at $64.63 on Thursday. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 140.50, a price-to-earnings-growth ratio of 3.63 and a beta of 1.51. The firm’s fifty day moving average price is $59.62 and its two-hundred day moving average price is $54.77. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $79.28. The company has a current ratio of 3.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.18.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The company had revenue of $286.56 million during the quarter, compared to the consensus estimate of $292.02 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities research analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 17th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, November 17th. Bio-Techne’s dividend payout ratio (DPR) is currently 65.31%.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.