Bamco Inc. NY Sells 331,052 Shares of Bio-Techne Co. (NASDAQ:TECH)

Bamco Inc. NY lowered its position in Bio-Techne Co. (NASDAQ:TECH) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,445,540 shares of the biotechnology company’s stock after selling 331,052 shares during the quarter. Bio-Techne accounts for about 0.9% of Bamco Inc. NY’s holdings, making the stock its 21st largest position. Bamco Inc. NY owned 2.80% of Bio-Techne worth $355,332,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Bio-Techne in the second quarter valued at $25,000. Brown Brothers Harriman & Co. increased its holdings in Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 369 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in shares of Bio-Techne in the 2nd quarter valued at $31,000. DT Investment Partners LLC bought a new position in shares of Bio-Techne during the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc boosted its position in shares of Bio-Techne by 1,427.8% during the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 514 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bio-Techne Stock Down 0.0 %

NASDAQ:TECH opened at $75.36 on Monday. Bio-Techne Co. has a 1 year low of $61.16 and a 1 year high of $85.57. The stock has a 50-day moving average price of $73.57 and a two-hundred day moving average price of $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. 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 issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. Bio-Techne’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS. As a group, equities analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Bio-Techne’s payout ratio is presently 34.04%.

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.