Amalgamated Bank Sells 1,620 Shares of Bio-Techne Co. (NASDAQ:TECH)

Amalgamated Bank cut its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,555 shares of the biotechnology company’s stock after selling 1,620 shares during the period. Amalgamated Bank’s holdings in Bio-Techne were worth $4,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bio-Techne in the third quarter worth approximately $27,000. CVA Family Office LLC purchased a new stake in shares of Bio-Techne during the fourth quarter valued at approximately $31,000. First Horizon Advisors Inc. raised its holdings in shares of Bio-Techne by 57.9% during the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 191 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Bio-Techne during the fourth quarter valued at approximately $44,000. Finally, Federated Hermes Inc. bought a new position in shares of Bio-Techne during the third quarter valued at approximately $47,000. 98.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TECH has been the subject of a number of research reports. Scotiabank initiated coverage on Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price objective for the company. Robert W. Baird boosted their price objective on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Royal Bank of Canada decreased their price objective on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Bio-Techne Stock Down 0.5 %

Bio-Techne stock opened at $77.05 on Thursday. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 61.15, a price-to-earnings-growth ratio of 9.08 and a beta of 1.23. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week high of $89.91. The business’s 50-day moving average price is $69.98 and its 200 day moving average price is $68.81. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The company had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. During the same period last year, the company earned $0.47 earnings per share. Bio-Techne’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bio-Techne Co. will post 1.52 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Friday, May 10th. Bio-Techne’s payout ratio is currently 25.40%.

Insider Buying and Selling at Bio-Techne

In other news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the sale, the director now directly owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is owned by corporate insiders.

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.