Vontobel Holding Ltd. Sells 1,250 Shares of Bio-Techne Co. (NASDAQ:TECH)

Vontobel Holding Ltd. reduced its holdings in Bio-Techne Co. (NASDAQ:TECH) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,691 shares of the biotechnology company’s stock after selling 1,250 shares during the period. Vontobel Holding Ltd.’s holdings in Bio-Techne were worth $775,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. CWM LLC increased its position in shares of Bio-Techne by 8.8% during the first quarter. CWM LLC now owns 3,786 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 305 shares during the period. GAMMA Investing LLC boosted its stake in Bio-Techne by 73.5% in the first quarter. GAMMA Investing LLC now owns 1,093 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 463 shares in the last quarter. Mather Group LLC. acquired a new position in Bio-Techne in the first quarter worth $38,000. AdvisorNet Financial Inc boosted its stake in Bio-Techne by 680.0% in the first quarter. AdvisorNet Financial Inc now owns 3,307 shares of the biotechnology company’s stock worth $233,000 after purchasing an additional 2,883 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Bio-Techne by 11.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,978 shares of the biotechnology company’s stock worth $1,969,000 after purchasing an additional 2,913 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird upped their price objective on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada cut their price objective 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Bio-Techne currently has a consensus rating of “Moderate Buy” and an average price target of $80.60.

Bio-Techne Price Performance

Bio-Techne stock opened at $71.24 on Monday. Bio-Techne Co. has a one year low of $51.79 and a one year high of $85.57. The business has a fifty day moving average price of $74.12 and a 200-day moving average price of $74.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. The firm has a market capitalization of $11.30 billion, a P/E ratio of 68.50, a PEG ratio of 5.15 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company had revenue of $306.10 million for the quarter, compared to the consensus estimate of $306.49 million. During the same quarter last year, the business posted $0.56 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Bio-Techne’s payout ratio is 30.77%.

About Bio-Techne

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.