Bio-Techne Corp $TECH Shares Sold by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill reduced its Bio-Techne stake by 11.8% in the first quarter, selling 57,502 shares and retaining 428,507 shares worth approximately $22.4 million. Institutional investors collectively own 98.95% of the company.
• Bio-Techne’s latest quarterly results missed expectations: adjusted EPS was $0.53 versus a $0.55 consensus estimate, while revenue fell 1.5% year over year to $311.42 million.
• The stock traded near its 52-week high at $72.09, while analysts’ overall rating remained “Hold” with a consensus price target of $68.08. The company also declared a quarterly dividend of $0.08 per share, yielding 0.4% annually.

Segall Bryant & Hamill LLC lowered its stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 428,507 shares of the biotechnology company's stock after selling 57,502 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.27% of Bio-Techne worth $22,394,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in Bio-Techne by 349.8% during the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company's stock worth $284,555,000 after purchasing an additional 3,978,026 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Bio-Techne by 164.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company's stock worth $235,994,000 after buying an additional 2,495,328 shares during the period. Ruane Cunniff & Goldfarb L.P. grew its stake in shares of Bio-Techne by 131.4% in the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company's stock valued at $177,266,000 after buying an additional 1,926,066 shares in the last quarter. Norges Bank acquired a new stake in shares of Bio-Techne in the fourth quarter valued at $99,494,000. Finally, Durable Capital Partners LP purchased a new stake in shares of Bio-Techne in the 3rd quarter valued at $77,658,000. Institutional investors and hedge funds own 98.95% of the company's stock.

Bio-Techne Stock Up 0.1%

Shares of NASDAQ:TECH opened at $72.09 on Friday. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.36. The firm's 50 day moving average price is $63.04 and its 200 day moving average price is $59.08. 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 stock has a market cap of $11.29 billion, a price-to-earnings ratio of 104.48, a price-to-earnings-growth ratio of 8.59 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS 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 firm had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. During the same quarter last year, the firm earned $0.56 EPS. The company's revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts predict that Bio-Techne Corp will post 1.65 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Robert W. Baird increased their target price on Bio-Techne from $49.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Zacks Research downgraded Bio-Techne from a "hold" rating to a "strong sell" rating in a research report on Monday, June 8th. TD Cowen lowered shares of Bio-Techne from a "buy" rating to a "hold" rating and boosted their price target for the stock from $65.00 to $73.00 in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft lowered shares of Bio-Techne from a "buy" rating to a "hold" rating and set a $73.00 price objective for the company. in a research note on Friday, June 26th. Finally, Wells Fargo & Company reduced their target price on shares of Bio-Techne from $76.00 to $62.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.08.

Bio-Techne Company 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.

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