Bio-Techne Corp $TECH Shares Sold by Amundi

Key Points

• Amundi reduced its stake in Bio-Techne Corp by 4.5%, owning 265,330 shares worth approximately $14.56 million at the end of the first quarter.
• Bio-Techne recently reported earnings of $0.53 per share, surpassing analysts' estimates and achieving a year-over-year revenue growth of 3.6%.
• The stock has experienced a 52-week range of $46.01 to $80.95 and has a current market capitalization of $8.50 billion.

Amundi lowered its holdings in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 265,330 shares of the biotechnology company's stock after selling 12,595 shares during the period. Amundi owned about 0.17% of Bio-Techne worth $14,556,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CX Institutional purchased a new position in Bio-Techne in the first quarter valued at about $27,000. AlphaQuest LLC purchased a new position in Bio-Techne in the first quarter valued at about $34,000. Federated Hermes Inc. purchased a new position in Bio-Techne in the first quarter valued at about $41,000. Caitong International Asset Management Co. Ltd boosted its holdings in Bio-Techne by 1,239.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company's stock valued at $54,000 after purchasing an additional 855 shares during the last quarter. Finally, Horizon Financial Services LLC bought a new position in Bio-Techne during the 1st quarter worth approximately $69,000. Hedge funds and other institutional investors own 98.95% of the company's stock.

Bio-Techne Stock Performance

Shares of NASDAQ TECH traded up $0.36 during mid-day trading on Monday, hitting $51.62. The company had a trading volume of 2,006,171 shares, compared to its average volume of 1,975,750. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $80.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 112.22, a PEG ratio of 3.27 and a beta of 1.47. The firm's 50 day simple moving average is $53.92 and its two-hundred day simple moving average is $53.16.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The firm had revenue of $316.96 million for the quarter, compared to analysts' expectations of $315.14 million. During the same period last year, the firm earned $0.49 EPS. The firm's revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, August 18th. Bio-Techne's dividend payout ratio (DPR) is currently 69.57%.

Analysts Set New Price Targets

A number of research firms have commented on TECH. Wall Street Zen downgraded Bio-Techne from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Stephens raised Bio-Techne to a "strong-buy" rating and set a $65.00 target price on the stock in a report on Tuesday, July 22nd. Wells Fargo & Company began coverage on Bio-Techne in a report on Friday, May 30th. They set an "overweight" rating and a $59.00 target price on the stock. Benchmark reaffirmed a "buy" rating and set a $75.00 target price on shares of Bio-Techne in a report on Thursday, June 5th. Finally, Royal Bank Of Canada raised Bio-Techne from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Bio-Techne has a consensus rating of "Moderate Buy" and an average price target of $70.42.

About Bio-Techne

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.