Montanaro Asset Management Ltd Has $20.38 Million Stock Holdings in Bio-Techne Corp $TECH

Montanaro Asset Management Ltd lessened its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,450 shares of the biotechnology company’s stock after selling 15,600 shares during the quarter. Bio-Techne comprises 5.7% of Montanaro Asset Management Ltd’s portfolio, making the stock its 2nd biggest holding. Montanaro Asset Management Ltd owned approximately 0.22% of Bio-Techne worth $20,375,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TECH. Danske Bank A S purchased a new position in shares of Bio-Techne in the fourth quarter valued at $29,000. eCIO Inc. bought a new stake in Bio-Techne in the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC purchased a new stake in Bio-Techne during the third quarter valued at $32,000. iSAM Funds UK Ltd purchased a new stake in Bio-Techne during the third quarter valued at $33,000. Finally, Los Angeles Capital Management LLC bought a new position in Bio-Techne during the fourth quarter valued at $39,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

NASDAQ TECH opened at $57.94 on Friday. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $52.41 and a two-hundred day moving average of $57.11. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 83.97, a PEG ratio of 5.57 and a beta of 1.37. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.16.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $311.42 million during 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 company’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. On average, analysts predict that Bio-Techne Corp will post 1.66 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, May 18th. Bio-Techne’s dividend payout ratio is presently 46.38%.

Analyst Ratings Changes

A number of equities analysts have commented on TECH shares. Piper Sandler initiated coverage on shares of Bio-Techne in a research note on Thursday, June 11th. They issued a “neutral” rating and a $65.00 price objective for the company. Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Evercore set a $50.00 price target on shares of Bio-Techne in a report on Thursday, May 7th. Royal Bank Of Canada set a $62.00 price target on Bio-Techne and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Finally, TD Cowen reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, March 17th. 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 assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.15.

Bio-Techne 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.