Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,836 shares of the biotechnology company’s stock after selling 4,065 shares during the quarter. Van ECK Associates Corp owned 0.09% of Bio-Techne worth $9,773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of Bio-Techne during the 4th quarter worth about $31,000. Mather Group LLC. purchased a new position in Bio-Techne during the 1st quarter valued at about $38,000. First Horizon Advisors Inc. boosted its holdings in Bio-Techne by 57.9% during the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 191 shares during the period. YHB Investment Advisors Inc. purchased a new position in Bio-Techne during the 1st quarter valued at about $43,000. Finally, GAMMA Investing LLC purchased a new position in Bio-Techne during the 4th quarter valued at about $44,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a report on Thursday, May 2nd. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Robert W. Baird lifted their price objective on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Bio-Techne Stock Down 0.1 %

Shares of NASDAQ TECH traded down $0.09 during midday trading on Friday, hitting $71.36. 253,685 shares of the company’s stock were exchanged, compared to its average volume of 1,091,611. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $89.91. The company has a market cap of $11.25 billion, a PE ratio of 56.71, a P/E/G ratio of 7.41 and a beta of 1.29. The firm’s fifty day simple moving average is $76.48 and its 200-day simple moving average is $72.97.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The business had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. Research analysts predict that Bio-Techne Co. will post 1.56 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, May 10th. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.

Bio-Techne Company 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.