Campbell & CO Investment Adviser LLC Sells 30,867 Shares of Bio-Techne Corp $TECH

Campbell & CO Investment Adviser LLC cut its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 87.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,304 shares of the biotechnology company’s stock after selling 30,867 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Bio-Techne were worth $239,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of Bio-Techne by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after buying an additional 113,634 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Bio-Techne by 40.0% in the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after acquiring an additional 3,814 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Bio-Techne by 3.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 20,672 shares of the biotechnology company’s stock worth $1,098,000 after acquiring an additional 709 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Bio-Techne during the second quarter worth approximately $270,000. Finally, GAMMA Investing LLC increased its stake in Bio-Techne by 44.6% during the second quarter. GAMMA Investing LLC now owns 2,595 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Bio-Techne stock opened at $68.16 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.22 and a quick ratio of 2.81. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 139.10, a price-to-earnings-growth ratio of 4.70 and a beta of 1.47. The firm has a 50-day moving average of $62.44 and a two-hundred day moving average of $58.47. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $79.28.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $292.02 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. On average, research analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, November 17th. Bio-Techne’s dividend payout ratio is presently 65.31%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TECH. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on shares of Bio-Techne and gave the stock a “buy” rating in a research note on Friday, December 12th. Wells Fargo & Company increased their target price on shares of Bio-Techne from $59.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Argus raised their target price on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, UBS Group upped their price target on shares of Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.57.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.