Bio-Techne Corp $TECH Shares Sold by Eversept Partners LP

Eversept Partners LP lessened its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 36.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 377,405 shares of the biotechnology company’s stock after selling 214,135 shares during the period. Bio-Techne makes up approximately 1.1% of Eversept Partners LP’s portfolio, making the stock its 20th biggest holding. Eversept Partners LP owned 0.24% of Bio-Techne worth $22,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Morgan Stanley grew its holdings in Bio-Techne by 15.3% during the fourth quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock worth $490,794,000 after acquiring an additional 1,107,536 shares during the period. State Street Corp grew its holdings in Bio-Techne by 1.0% during the fourth quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock worth $341,806,000 after acquiring an additional 58,639 shares during the period. Wellington Management Group LLP grew its holdings in Bio-Techne by 349.8% in the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after purchasing an additional 3,978,026 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings 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 last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analysts Set New Price Targets

TECH has been the topic of several research reports. Piper Sandler initiated coverage on Bio-Techne in a report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 target price on the stock. Zacks Research lowered Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Evercore set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. Royal Bank Of Canada set a $62.00 target price on Bio-Techne and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, Stifel Nicolaus set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.15.

Bio-Techne Stock Performance

NASDAQ TECH opened at $55.00 on Thursday. The business’s 50-day moving average price is $52.28 and its 200 day moving average price is $57.15. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16. The company has a market capitalization of $8.61 billion, a PE ratio of 79.71, a price-to-earnings-growth ratio of 5.32 and a beta of 1.37. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. On average, research analysts predict that Bio-Techne Corp will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were 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 was Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

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.