Corient Private Wealth LLC Reduces Stake in Bio-Techne Corp $TECH

Corient Private Wealth LLC reduced its holdings in Bio-Techne Corp (NASDAQ:TECH) by 9.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 374,193 shares of the biotechnology company’s stock after selling 38,565 shares during the quarter. Corient Private Wealth LLC owned about 0.24% of Bio-Techne worth $19,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nuveen LLC purchased a new position in Bio-Techne during the 1st quarter valued at $7,396,000. Public Sector Pension Investment Board increased its position in shares of Bio-Techne by 8.3% during the first quarter. Public Sector Pension Investment Board now owns 21,691 shares of the biotechnology company’s stock valued at $1,272,000 after buying an additional 1,657 shares during the period. Aberdeen Group plc raised its stake in Bio-Techne by 106.7% in the first quarter. Aberdeen Group plc now owns 94,392 shares of the biotechnology company’s stock worth $5,492,000 after buying an additional 48,730 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in Bio-Techne by 0.9% in the first quarter. Raymond James Financial Inc. now owns 623,304 shares of the biotechnology company’s stock worth $36,544,000 after buying an additional 5,796 shares during the period. Finally, Korea Investment CORP boosted its position in Bio-Techne by 82.2% during the 1st quarter. Korea Investment CORP now owns 134,345 shares of the biotechnology company’s stock valued at $7,877,000 after acquiring an additional 60,600 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.8%

NASDAQ:TECH opened at $56.99 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.81 and a current ratio of 4.22. The firm has a market cap of $8.88 billion, a P/E ratio of 116.31, a P/E/G ratio of 3.96 and a beta of 1.46. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $79.28. The firm has a 50-day simple moving average of $61.15 and a two-hundred day simple moving average of $56.07.

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

Bio-Techne Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio (DPR) is presently 65.31%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TECH shares. Deutsche Bank Aktiengesellschaft set a $72.00 target price on Bio-Techne and gave the stock a “buy” rating in a research report on Friday, December 12th. Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Royal Bank Of Canada raised Bio-Techne from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 3rd. TD Cowen upped their target price on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Finally, Citigroup raised shares of Bio-Techne from a “neutral” rating to a “buy” rating and lifted their price target for the company 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, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.00.

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.