Bio-Techne Corp $TECH Stock Holdings Decreased by Montanaro Asset Management Ltd

Montanaro Asset Management Ltd reduced its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 346,450 shares of the biotechnology company’s stock after selling 15,600 shares during the period. Bio-Techne comprises 5.7% of Montanaro Asset Management Ltd’s portfolio, making the stock its 2nd biggest position. Montanaro Asset Management Ltd’s holdings in Bio-Techne were worth $20,375,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Bio-Techne by 349.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after acquiring an additional 3,978,026 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $235,994,000 after purchasing an additional 2,495,328 shares during the period. Norges Bank purchased a new stake in shares of Bio-Techne during the fourth quarter valued at $99,494,000. Durable Capital Partners LP bought a new position in shares of Bio-Techne in the third quarter worth about $77,658,000. Finally, Morgan Stanley grew its holdings in shares of Bio-Techne by 15.3% in the fourth quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock worth $490,794,000 after purchasing an additional 1,107,536 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TECH shares. Citigroup reduced their price target on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Zacks Research downgraded shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Piper Sandler began coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They set a “neutral” rating and a $65.00 target price on the stock. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Robert W. Baird set a $49.00 price target on shares of Bio-Techne in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.15.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $57.94 on Friday. The firm has a market cap of $9.07 billion, a P/E ratio of 83.97, a P/E/G ratio of 5.57 and a beta of 1.37. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16. The stock’s fifty day moving average price is $52.41 and its 200-day moving average price is $57.11.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that Bio-Techne Corp will post 1.66 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued 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 payout ratio is currently 46.38%.

About Bio-Techne

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.