Bio-Techne Corp $TECH Stake Trimmed by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 99.0% during the third quarter, Holdings Channel.com reports. The firm owned 4,338 shares of the biotechnology company’s stock after selling 432,169 shares during the period. Riverbridge Partners LLC’s holdings in Bio-Techne were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TECH. Tema ETFs LLC lifted its position in Bio-Techne by 5.4% during the second quarter. Tema ETFs LLC now owns 2,818 shares of the biotechnology company’s stock valued at $199,000 after purchasing an additional 145 shares during the last quarter. ZWJ Investment Counsel Inc. increased its holdings in shares of Bio-Techne by 4.8% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 3,971 shares of the biotechnology company’s stock worth $288,000 after buying an additional 183 shares during the last quarter. Empirical Finance LLC raised its position in shares of Bio-Techne by 4.4% during the 2nd quarter. Empirical Finance LLC now owns 4,478 shares of the biotechnology company’s stock valued at $316,000 after buying an additional 189 shares in the last quarter. Bryn Mawr Trust Advisors LLC raised its position in shares of Bio-Techne by 5.1% during the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 194 shares in the last quarter. Finally, North Dakota State Investment Board raised its position in shares of Bio-Techne by 4.3% during the 3rd quarter. North Dakota State Investment Board now owns 4,789 shares of the biotechnology company’s stock valued at $347,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.0%

Shares of TECH opened at $72.80 on Thursday. The business has a fifty day moving average of $72.52 and a 200 day moving average of $63.43. The company has a market cap of $11.44 billion, a PE ratio of 42.34, a P/E/G ratio of 5.28 and a beta of 1.29. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.88.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Friday, November 6th. The biotechnology company reported $0.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.44. Bio-Techne had a net margin of 14.00% and a return on equity of 11.56%. The business had revenue of $299.71 million for the quarter, compared to analysts’ expectations of $292.60 million. As a group, research analysts anticipate that Bio-Techne Corp will post 1.75 earnings per share for the current fiscal year.

Bio-Techne Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 13th will be issued a $0.08 dividend. This is a drop from Bio-Techne’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, November 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Bio-Techne’s dividend payout ratio (DPR) is 27.83%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Argus downgraded shares of Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 26th. Weiss Ratings raised Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Wells Fargo & Company cut Bio-Techne from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $62.00 to $73.00 in a research note on Thursday, August 13th. Benchmark restated a “hold” rating on shares of Bio-Techne in a research report on Wednesday, August 19th. Finally, Zacks Research raised Bio-Techne from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.92.

Bio-Techne Profile

Bio-Techne is a life sciences company that develops and supplies products and services used in biological research, drug development, and clinical diagnostics. Its offerings include proteins, antibodies, immunoassays, and small molecules, as well as instruments and analytical tools for studying cells and biological processes. The company also provides technologies for protein analysis, molecular diagnostics, and spatial biology. Its portfolio includes products and services associated with brands such as R&D Systems, Tocris, ProteinSimple, and Advanced Cell Diagnostics.