Bio-Techne Co. (NASDAQ:TECH) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC reduced its stake in Bio-Techne Co. (NASDAQ:TECH) by 42.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 708,520 shares of the biotechnology company’s stock after selling 521,491 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Bio-Techne were worth $56,632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank lifted its stake in Bio-Techne by 14.8% during the first quarter. Comerica Bank now owns 53,246 shares of the biotechnology company’s stock worth $3,748,000 after purchasing an additional 6,845 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Bio-Techne by 135.4% during the first quarter. Cetera Investment Advisers now owns 23,423 shares of the biotechnology company’s stock worth $1,649,000 after purchasing an additional 13,474 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Bio-Techne in the first quarter valued at approximately $401,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Bio-Techne by 3.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 17,926 shares of the biotechnology company’s stock valued at $1,239,000 after purchasing an additional 599 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Bio-Techne by 80.4% in the second quarter. GAMMA Investing LLC now owns 1,972 shares of the biotechnology company’s stock valued at $141,000 after purchasing an additional 879 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Scotiabank lifted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada lowered their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.78.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $75.36 on Monday. The company’s 50-day moving average price is $73.57 and its 200 day moving average price is $74.97. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 80.17, a PEG ratio of 5.50 and a beta of 1.28. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The firm had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. During the same quarter last year, the business earned $0.35 earnings per share. Bio-Techne’s revenue was up 4.5% compared to the same quarter last year. As a group, research analysts forecast that Bio-Techne Co. will post 1.68 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, November 22nd. Investors of record on Monday, November 11th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio is presently 34.04%.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.