Bamco Inc. NY Sells 1,288,824 Shares of Bio-Techne Corp $TECH

Bamco Inc. NY trimmed its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 51.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,207,499 shares of the biotechnology company’s stock after selling 1,288,824 shares during the period. Bamco Inc. NY’s holdings in Bio-Techne were worth $71,013,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Danske Bank A S bought a new stake in shares of Bio-Techne during the 4th quarter valued at $29,000. eCIO Inc. acquired a new stake in shares of Bio-Techne in the 4th quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC bought a new stake in Bio-Techne during the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd bought a new stake in Bio-Techne during the 3rd quarter worth approximately $33,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Bio-Techne in the fourth quarter worth approximately $39,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of research analyst reports. Zacks Research downgraded Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Wells Fargo & Company lowered their target price on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Citigroup lowered their target price on Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Robert W. Baird set a $49.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada set a $62.00 price objective on Bio-Techne and gave the company an “outperform” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given 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 Price Performance

Shares of Bio-Techne stock opened at $55.00 on Thursday. The firm has a market cap of $8.61 billion, a PE ratio of 79.71, a PEG ratio of 5.32 and a beta of 1.37. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16. The stock has a 50 day moving average of $52.28 and a 200 day moving average of $57.15. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10.

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

Bio-Techne Announces Dividend

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

Bio-Techne Company 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.