Bio-Techne Corp $TECH Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in Bio-Techne Corp (NASDAQ:TECH) by 95.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,612 shares of the biotechnology company’s stock after selling 59,110 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Bio-Techne were worth $145,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Caprock Group LLC purchased a new stake in Bio-Techne in the third quarter valued at approximately $1,710,000. Segall Bryant & Hamill LLC increased its holdings in shares of Bio-Techne by 9.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock valued at $29,100,000 after acquiring an additional 48,838 shares during the period. Fort Washington Investment Advisors Inc. OH raised its position in Bio-Techne by 8.0% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock valued at $26,386,000 after purchasing an additional 35,165 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Bio-Techne by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock worth $79,873,000 after purchasing an additional 41,180 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Bio-Techne by 27.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock worth $11,529,000 after purchasing an additional 47,555 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Performance

Shares of TECH stock opened at $57.52 on Friday. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $63.15 and a 200-day simple moving average of $59.66. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 112.79, a price-to-earnings-growth ratio of 3.87 and a beta of 1.48. Bio-Techne Corp has a 12-month low of $46.01 and a 12-month high of $72.16.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $295.88 million for the quarter, compared to the consensus estimate of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. On average, equities analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 16th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, February 13th. Bio-Techne’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. TD Cowen reiterated a “buy” rating and set a $80.00 target price (up previously from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Techne in a research note on Wednesday, January 21st. Argus lifted their target price on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Evercore boosted their target price on Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Finally, Stifel Nicolaus set a $65.00 price target on Bio-Techne and gave the stock a “hold” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

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.