Bio-Techne Corp $TECH Shares Sold by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC cut its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 3.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 612,826 shares of the biotechnology company’s stock after selling 23,997 shares during the period. Bio-Techne accounts for approximately 1.5% of Aristotle Atlantic Partners LLC’s holdings, making the stock its 21st biggest holding. Aristotle Atlantic Partners LLC owned approximately 0.39% of Bio-Techne worth $32,026,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Morgan Stanley lifted its holdings in shares of Bio-Techne by 15.3% during the 4th quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock valued at $490,794,000 after acquiring an additional 1,107,536 shares in the last quarter. State Street Corp increased its holdings in Bio-Techne by 1.0% in the 4th quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock valued at $341,806,000 after purchasing an additional 58,639 shares in the last quarter. Wellington Management Group LLP increased its holdings in Bio-Techne by 12.1% in the 4th quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock valued at $337,219,000 after purchasing an additional 618,916 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Bio-Techne by 21.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,075,194 shares of the biotechnology company’s stock valued at $239,663,000 after purchasing an additional 725,050 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Bio-Techne by 164.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock valued at $235,994,000 after purchasing an additional 2,495,328 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Trading Down 0.2%

Shares of TECH opened at $71.60 on Friday. Bio-Techne Corp has a one year low of $43.19 and a one year high of $72.16. The stock has a 50-day moving average price of $60.48 and a 200 day moving average price of $58.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. The company has a market capitalization of $11.21 billion, a P/E ratio of 103.77, a P/E/G ratio of 8.53 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The company had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. During the same quarter last year, the firm posted $0.56 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts forecast that Bio-Techne Corp will post 1.65 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Bio-Techne’s dividend payout ratio is 46.38%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TECH. Leerink Partners set a $73.00 target price on Bio-Techne in a research report on Thursday, June 25th. Robert W. Baird raised their target price on Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Evercore lowered Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft cut Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a report on Friday, June 26th. Finally, Citigroup lowered shares of Bio-Techne from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $70.00 to $73.00 in a research note on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Bio-Techne has an average rating of “Hold” and a consensus target price of $68.08.

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.