Voya Investment Management LLC Sells 324,328 Shares of Bio-Techne Corp $TECH

Voya Investment Management LLC decreased its position in Bio-Techne Corp (NASDAQ:TECH) by 71.9% during the third quarter, HoldingsChannel.com reports. The firm owned 126,453 shares of the biotechnology company’s stock after selling 324,328 shares during the quarter. Voya Investment Management LLC’s holdings in Bio-Techne were worth $7,035,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 248 shares during the last quarter. AlphaQuest LLC bought a new stake in Bio-Techne in the 1st quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its position in Bio-Techne by 506.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 562 shares during the period. First Horizon Advisors Inc. raised its stake in Bio-Techne by 134.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 868 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 498 shares during the last quarter. Finally, Hoese & Co LLP purchased a new stake in Bio-Techne during the 2nd quarter valued at $51,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TECH has been the topic of a number of research reports. Royal Bank Of Canada raised shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 3rd. Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a report on Tuesday, October 14th. Wells Fargo & Company upped their target price on shares of Bio-Techne from $59.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Argus boosted their price objective on shares of Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Finally, TD Cowen raised their price target on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and an average price target of $71.00.

Bio-Techne Trading Down 0.9%

Shares of NASDAQ TECH opened at $58.71 on Thursday. The business has a fifty day moving average price of $61.05 and a 200 day moving average price of $56.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.22 and a quick ratio of 2.81. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $79.28. The stock has a market capitalization of $9.15 billion, a P/E ratio of 119.81, a price-to-earnings-growth ratio of 4.08 and a beta of 1.46.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, hitting 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 analyst estimates of $292.02 million. During the same quarter in the previous year, the business posted $0.42 EPS. Bio-Techne’s revenue was down 1.0% on a year-over-year basis. Equities research analysts expect that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were paid a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio is presently 65.31%.

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.