Bamco Inc. NY Has $143.81 Million Stake in Bio-Techne Corp $TECH

Bamco Inc. NY trimmed its position in Bio-Techne Corp (NASDAQ:TECH) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,795,147 shares of the biotechnology company’s stock after selling 480,659 shares during the quarter. Bamco Inc. NY owned about 1.78% of Bio-Techne worth $143,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TECH. 4D Advisors LLC acquired a new position in shares of Bio-Techne during the second quarter worth approximately $2,058,000. Raymond James Financial Inc. grew its position in Bio-Techne by 11.0% in the 2nd quarter. Raymond James Financial Inc. now owns 692,090 shares of the biotechnology company’s stock worth $35,608,000 after purchasing an additional 68,786 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Bio-Techne during the 2nd quarter worth about $31,421,000. Canada Pension Plan Investment Board raised its position in shares of Bio-Techne by 59.2% during the second quarter. Canada Pension Plan Investment Board now owns 7,800 shares of the biotechnology company’s stock valued at $401,000 after buying an additional 2,900 shares during the last quarter. Finally, Bayesian Capital Management LP grew its position in Bio-Techne by 400.9% during the second quarter. Bayesian Capital Management LP now owns 23,617 shares of the biotechnology company’s stock worth $1,215,000 after buying an additional 18,902 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Down 2.9%

Shares of NASDAQ:TECH opened at $58.51 on Friday. The company has a quick ratio of 2.81, a current ratio of 4.22 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $61.32 and a 200-day moving average of $55.82. Bio-Techne Corp has a 12-month low of $46.01 and a 12-month high of $79.28. The stock has a market cap of $9.12 billion, a PE ratio of 119.41, a P/E/G ratio of 3.92 and a beta of 1.46.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.The business had revenue of $286.56 million during the quarter, compared to analysts’ expectations of $292.02 million. During the same period in the previous year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, November 17th. Bio-Techne’s dividend payout ratio is presently 65.31%.

Analyst Ratings Changes

TECH has been the subject of a number of research reports. TD Cowen raised their price objective on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Citigroup upgraded shares of Bio-Techne from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $70.00 in a research note on Thursday, August 21st. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. UBS Group raised their price objective on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Royal Bank Of Canada raised shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.00.

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.