Amundi Sells 12,595 Shares of Bio-Techne Corp $TECH

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 13F filing with the Securities & Exchange Commission. The firm owned 265,330 shares of the biotechnology company's stock after selling 12,595 shares during the period. Amundi owned approximately 0.17% of Bio-Techne worth $14,556,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TECH. CX Institutional bought a new stake in shares of Bio-Techne during the 1st quarter worth approximately $27,000. AlphaQuest LLC bought a new stake in shares of Bio-Techne during the 1st quarter worth approximately $34,000. Federated Hermes Inc. bought a new stake in shares of Bio-Techne during the 1st quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Bio-Techne by 1,239.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company's stock worth $54,000 after acquiring an additional 855 shares during the period. Finally, Horizon Financial Services LLC bought a new stake in shares of Bio-Techne during the 1st quarter worth approximately $69,000. Institutional investors own 98.95% of the company's stock.

Bio-Techne Trading Up 0.7%

NASDAQ TECH traded up $0.38 on Monday, hitting $51.64. The company's stock had a trading volume of 118,606 shares, compared to its average volume of 2,043,250. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $80.95. The company's 50-day moving average is $53.92 and its 200 day moving average is $53.23. The firm has a market cap of $8.10 billion, a PE ratio of 112.20, a PEG ratio of 3.27 and a beta of 1.47.

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

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.08 per share. The ex-dividend date was Monday, August 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Bio-Techne's dividend payout ratio is 69.57%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TECH shares. Benchmark reaffirmed a "buy" rating and set a $75.00 price target on shares of Bio-Techne in a report on Thursday, June 5th. Wells Fargo & Company started coverage on shares of Bio-Techne in a report on Friday, May 30th. They set an "overweight" rating and a $59.00 price target for the company. Stephens raised shares of Bio-Techne to a "strong-buy" rating and set a $65.00 price target for the company in a report on Tuesday, July 22nd. Royal Bank Of Canada raised shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen downgraded shares of Bio-Techne from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. One investment 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.com, the company has an average rating of "Moderate Buy" and an average target price of $70.42.

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.