Diversified Trust Co Decreases Position in Bio-Techne Co. (NASDAQ:TECH)

Diversified Trust Co decreased its position in Bio-Techne Co. (NASDAQ:TECHFree Report) by 12.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,134 shares of the biotechnology company’s stock after selling 1,748 shares during the period. Diversified Trust Co’s holdings in Bio-Techne were worth $854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in Bio-Techne in the 4th quarter worth $31,000. Mather Group LLC. purchased a new position in Bio-Techne in the 1st quarter worth $38,000. First Horizon Advisors Inc. raised its stake in Bio-Techne by 57.9% in the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 191 shares during the last quarter. GAMMA Investing LLC purchased a new position in Bio-Techne in the 4th quarter worth $44,000. Finally, Federated Hermes Inc. purchased a new position in Bio-Techne in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Down 0.5 %

TECH stock opened at $71.24 on Wednesday. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of 56.54, a PEG ratio of 8.61 and a beta of 1.29. The business’s 50-day moving average is $76.14 and its 200 day moving average is $72.99.

Bio-Techne (NASDAQ:TECHGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $292.36 million. During the same period in the previous year, the firm posted $0.47 EPS. Bio-Techne’s revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Bio-Techne Co. will post 1.56 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Friday, May 10th. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.

Wall Street Analysts Forecast Growth

TECH has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research report on Thursday, May 2nd. Citigroup downgraded Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft cut their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Robert W. Baird increased their price target on Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.00.

View Our Latest Stock Report on Bio-Techne

Bio-Techne Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

Receive News & Ratings for Bio-Techne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne and related companies with MarketBeat.com's FREE daily email newsletter.