Eversept Partners LP Cuts Position in Bio-Techne Corp $TECH

Eversept Partners LP trimmed its position in Bio-Techne Corp (NASDAQ:TECH) by 36.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 377,405 shares of the biotechnology company’s stock after selling 214,135 shares during the quarter. Bio-Techne comprises 1.1% of Eversept Partners LP’s investment portfolio, making the stock its 20th biggest position. Eversept Partners LP’s holdings in Bio-Techne were worth $22,195,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TECH. Goldman Sachs Group Inc. raised its holdings in shares of Bio-Techne by 12.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock valued at $62,379,000 after buying an additional 113,634 shares during the period. Woodline Partners LP raised its holdings in shares of Bio-Techne by 40.0% during the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after buying an additional 3,814 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 562 shares during the period. First Trust Advisors LP raised its holdings in shares of Bio-Techne by 1,085.7% during the 2nd quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock valued at $5,424,000 after buying an additional 96,527 shares during the period. Finally, Natixis raised its holdings in shares of Bio-Techne by 82.6% during the 2nd quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock valued at $1,286,000 after buying an additional 11,306 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Robert W. Baird set a $49.00 target price on Bio-Techne in a report on Thursday, May 7th. Wells Fargo & Company dropped their target price on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Stifel Nicolaus set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Finally, Piper Sandler assumed coverage on Bio-Techne in a report on Thursday, June 11th. They set a “neutral” rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.15.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $55.00 on Thursday. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.16. The business has a 50 day moving average price of $52.28 and a two-hundred day moving average price of $57.15. 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 firm has a market cap of $8.61 billion, a PE ratio of 79.71, a price-to-earnings-growth ratio of 5.32 and a beta of 1.37.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. Bio-Techne’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. Sell-side analysts expect that Bio-Techne Corp will post 1.68 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. Stockholders of record on Monday, May 18th were given a $0.08 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio (DPR) is presently 46.38%.

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.