JPMorgan Chase & Co. Sells 633,738 Shares of Bio-Techne Corp $TECH

JPMorgan Chase & Co. lowered its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 46.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 725,085 shares of the biotechnology company’s stock after selling 633,738 shares during the quarter. JPMorgan Chase & Co. owned about 0.47% of Bio-Techne worth $40,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TECH. Wellington Management Group LLP boosted its position in Bio-Techne by 349.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after acquiring an additional 3,978,026 shares in the last quarter. Norges Bank bought a new position in shares of Bio-Techne in the 2nd quarter worth approximately $98,238,000. Durable Capital Partners LP purchased a new position in shares of Bio-Techne in the 3rd quarter valued at approximately $77,658,000. American Century Companies Inc. lifted its stake in shares of Bio-Techne by 78.3% in the 3rd quarter. American Century Companies Inc. now owns 2,037,806 shares of the biotechnology company’s stock valued at $113,363,000 after purchasing an additional 894,987 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of Bio-Techne by 32.3% during the third quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock valued at $183,975,000 after purchasing an additional 807,147 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stifel Nicolaus set a $65.00 price objective on Bio-Techne and gave the stock a “hold” rating in a report on Thursday, February 5th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. Robert W. Baird set a $70.00 price target on shares of Bio-Techne in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft set a $72.00 price target on shares of Bio-Techne and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Wells Fargo & Company upped their price objective on shares of Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.77.

Bio-Techne Trading Down 0.2%

NASDAQ TECH opened at $51.48 on Friday. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $72.16. 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’s fifty day moving average price is $60.84 and its 200-day moving average price is $59.78. The stock has a market cap of $8.05 billion, a P/E ratio of 100.94, a P/E/G ratio of 3.42 and a beta of 1.48.

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

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne’s dividend payout ratio is currently 62.75%.

Bio-Techne Company Profile

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.