Neuberger Berman Group LLC Has $128.62 Million Stake in Bio-Techne Corp $TECH

Neuberger Berman Group LLC cut its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 17.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,499,969 shares of the biotechnology company’s stock after selling 526,056 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.59% of Bio-Techne worth $128,623,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TECH. Select Equity Group L.P. increased its position in Bio-Techne by 129.8% during the 1st quarter. Select Equity Group L.P. now owns 5,366,003 shares of the biotechnology company’s stock valued at $314,609,000 after purchasing an additional 3,030,644 shares during the period. Norges Bank bought a new stake in Bio-Techne during the second quarter valued at $98,238,000. RGM Capital LLC bought a new position in shares of Bio-Techne in the 1st quarter worth about $59,267,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Bio-Techne by 6.8% in 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 during the period. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Bio-Techne during the 2nd quarter valued at about $31,421,000. 98.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TECH. TD Cowen increased their price target on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Evercore ISI set a $68.00 target price on shares of Bio-Techne in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $72.00 price target on shares of Bio-Techne and gave the company a “buy” rating in a research note on Friday. Argus increased their price objective on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Finally, UBS Group raised their target price on Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Bio-Techne Trading Down 2.9%

NASDAQ TECH opened at $58.51 on Friday. The company has a current ratio of 4.22, a quick ratio of 2.81 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $61.32 and a 200 day simple moving average of $55.87. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $79.28. The firm has a market capitalization of $9.12 billion, a P/E ratio of 119.41, a PEG ratio of 3.81 and a beta of 1.46.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The company had revenue of $286.56 million during the quarter, compared to the consensus estimate of $292.02 million. During the same quarter in the prior year, the company 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, analysts predict that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, November 17th. Bio-Techne’s dividend payout ratio (DPR) is presently 65.31%.

About Bio-Techne

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.