Vanguard Group Inc. Sells 126,459 Shares of Bio-Techne Co. (NASDAQ:TECH)

Vanguard Group Inc. reduced its position in Bio-Techne Co. (NASDAQ:TECH) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,228,210 shares of the biotechnology company’s stock after selling 126,459 shares during the period. Vanguard Group Inc. owned approximately 11.60% of Bio-Techne worth $1,406,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. CVA Family Office LLC bought a new stake in shares of Bio-Techne during the 4th quarter valued at about $31,000. First Horizon Advisors Inc. grew its position in Bio-Techne by 57.9% during the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 191 shares during the period. GAMMA Investing LLC purchased a new stake in Bio-Techne during the fourth quarter valued at approximately $44,000. Federated Hermes Inc. bought a new position in Bio-Techne in the third quarter worth approximately $47,000. Finally, Clear Street Markets LLC boosted its stake in shares of Bio-Techne by 255.8% during the 3rd quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 527 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup lowered 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. Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Thursday, May 2nd. 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 report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.00.

Bio-Techne Stock Down 0.4 %

Shares of NASDAQ:TECH opened at $74.54 on Thursday. The firm has a market capitalization of $11.75 billion, a PE ratio of 59.16, a price-to-earnings-growth ratio of 8.95 and a beta of 1.29. The business has a 50 day simple moving average of $74.63 and a two-hundred day simple moving average of $72.77. Bio-Techne Co. has a 1 year low of $51.79 and a 1 year high of $89.91. 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 (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The company had revenue of $303.43 million for the quarter, compared to the consensus estimate of $292.36 million. During the same quarter in the prior year, the company posted $0.47 EPS. Bio-Techne’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts predict that Bio-Techne Co. will post 1.56 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, May 10th. Bio-Techne’s dividend payout ratio is presently 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.