Eversept Partners LP Sells 251,509 Shares of Bio-Techne Corp $TECH

Eversept Partners LP decreased its holdings in Bio-Techne Corp (NASDAQ:TECH) by 66.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,896 shares of the biotechnology company’s stock after selling 251,509 shares during the period. Eversept Partners LP’s holdings in Bio-Techne were worth $6,579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Danske Bank A S purchased a new position in Bio-Techne during the 4th quarter valued at about $29,000. eCIO Inc. bought a new stake in shares of Bio-Techne in the 4th quarter valued at about $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Bio-Techne in the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd bought a new position in shares of Bio-Techne during the third quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 562 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on TECH. Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $70.00 to $73.00 in a research note on Friday, June 26th. Stephens set a $73.00 target price on Bio-Techne and gave the company an “equal weight” rating in a research report on Friday, June 26th. Robert W. Baird lifted their price target on Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Leerink Partners set a $73.00 price target on Bio-Techne in a research report on Thursday, June 25th. Finally, Piper Sandler initiated coverage on Bio-Techne in a research note on Thursday, June 11th. They set a “neutral” rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Hold” and a consensus target price of $68.08.

Bio-Techne Trading Up 0.0%

Shares of NASDAQ:TECH opened at $71.62 on Tuesday. The business’s 50-day moving average is $61.03 and its 200 day moving average is $58.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.16. The firm has a market capitalization of $11.21 billion, a P/E ratio of 103.80, a P/E/G ratio of 8.53 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last issued its quarterly 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). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The business had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. During the same period in the prior year, the business posted $0.56 EPS. Bio-Techne’s revenue was down 1.5% compared to the same quarter last year. On average, research analysts predict that Bio-Techne Corp will post 1.65 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a $0.08 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

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.