Amalgamated Bank boosted its holdings in Bio-Techne Co. (NASDAQ:TECH – Get Rating) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,540 shares of the biotechnology company’s stock after acquiring an additional 283 shares during the period. Amalgamated Bank’s holdings in Bio-Techne were worth $6,729,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of TECH. BOK Financial Private Wealth Inc. boosted its stake in shares of Bio-Techne by 3.4% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 893 shares of the biotechnology company’s stock worth $462,000 after purchasing an additional 29 shares during the last quarter. Ascent Group LLC lifted its holdings in shares of Bio-Techne by 4.5% during the 1st quarter. Ascent Group LLC now owns 667 shares of the biotechnology company’s stock worth $289,000 after acquiring an additional 29 shares during the period. Financial Consulate Inc. lifted its holdings in shares of Bio-Techne by 3.4% during the 1st quarter. Financial Consulate Inc. now owns 983 shares of the biotechnology company’s stock worth $426,000 after acquiring an additional 32 shares during the period. Wetherby Asset Management Inc. lifted its holdings in shares of Bio-Techne by 4.8% during the 1st quarter. Wetherby Asset Management Inc. now owns 737 shares of the biotechnology company’s stock worth $319,000 after acquiring an additional 34 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Bio-Techne by 1.0% during the 1st quarter. CIBC Asset Management Inc now owns 3,697 shares of the biotechnology company’s stock worth $1,601,000 after acquiring an additional 36 shares during the period. 94.35% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on TECH shares. Stephens cut their price objective on shares of Bio-Techne from $500.00 to $480.00 and set an “overweight” rating on the stock in a report on Friday, August 5th. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Friday, September 9th. Robert W. Baird cut their price objective on shares of Bio-Techne from $500.00 to $470.00 in a report on Friday, August 5th. Wells Fargo & Company cut their price target on shares of Bio-Techne from $370.00 to $360.00 and set an “underweight” rating on the stock in a report on Tuesday, August 16th. Finally, Credit Suisse Group initiated coverage on shares of Bio-Techne in a report on Wednesday, August 24th. They issued an “outperform” rating and a $465.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $475.00.
Insider Buying and Selling
Bio-Techne Trading Down 2.8 %
TECH opened at $307.59 on Monday. Bio-Techne Co. has a 52-week low of $301.45 and a 52-week high of $543.85. The company has a quick ratio of 2.64, a current ratio of 3.44 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $12.06 billion, a P/E ratio of 46.46, a P/E/G ratio of 1.66 and a beta of 1.25. The firm’s 50 day moving average is $354.42 and its 200-day moving average is $374.61.
Bio-Techne (NASDAQ:TECH – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.03). The company had revenue of $288.30 million for the quarter, compared to analyst estimates of $287.04 million. Bio-Techne had a return on equity of 16.97% and a net margin of 24.61%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.67 EPS. Analysts expect that Bio-Techne Co. will post 7.73 EPS for the current fiscal year.
Bio-Techne Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Monday, August 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, August 12th. Bio-Techne’s dividend payout ratio is presently 19.34%.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.
- Get a free copy of the StockNews.com research report on Bio-Techne (TECH)
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