Amundi Lowers Position in Bio-Techne Corp $TECH

Amundi trimmed its position in Bio-Techne Corp (NASDAQ:TECH) by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 265,330 shares of the biotechnology company’s stock after selling 12,595 shares during the period. Amundi owned 0.17% of Bio-Techne worth $14,556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TECH. CX Institutional bought a new position in shares of Bio-Techne in the 1st quarter worth about $27,000. AlphaQuest LLC bought a new position in shares of Bio-Techne during the first quarter valued at approximately $34,000. Federated Hermes Inc. purchased a new position in shares of Bio-Techne during the first quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Bio-Techne by 1,239.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 855 shares in the last quarter. Finally, Horizon Financial Services LLC purchased a new stake in shares of Bio-Techne in the 1st quarter worth approximately $69,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $54.20 on Wednesday. The stock’s 50-day simple moving average is $54.00 and its 200-day simple moving average is $53.56. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $80.95. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 117.83, a PEG ratio of 3.45 and a beta of 1.47.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The business had revenue of $316.96 million during the quarter, compared to analyst estimates of $315.14 million. During the same period last year, the firm posted $0.49 EPS. The company’s revenue was up 3.6% on a year-over-year basis. As a group, analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, August 18th. Bio-Techne’s dividend payout ratio is 69.57%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TECH. Benchmark reiterated a “buy” rating and set a $75.00 price objective on shares of Bio-Techne in a research note on Thursday, June 5th. Wells Fargo & Company initiated coverage on shares of Bio-Techne in a research note on Friday, May 30th. They issued an “overweight” rating and a $59.00 price target on the stock. Wall Street Zen downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating in a research report on Sunday, June 8th. Stephens upgraded Bio-Techne to a “strong-buy” rating and set a $65.00 price objective for the company in a report on Tuesday, July 22nd. Finally, Citigroup raised shares of Bio-Techne from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $70.00 in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.42.

Bio-Techne Company Profile

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.