First City Capital Management Inc. Has $211,000 Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

First City Capital Management Inc. trimmed its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,950 shares of the biotechnology company’s stock after selling 235 shares during the quarter. First City Capital Management Inc.’s holdings in Bio-Techne were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TECH. Dimensional Fund Advisors LP grew its holdings in Bio-Techne by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company’s stock worth $56,646,000 after acquiring an additional 118,534 shares during the period. Sei Investments Co. boosted its position in shares of Bio-Techne by 16.2% during the 4th quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock valued at $66,089,000 after purchasing an additional 119,295 shares in the last quarter. Hsbc Holdings PLC grew its stake in Bio-Techne by 55.3% during the fourth quarter. Hsbc Holdings PLC now owns 261,370 shares of the biotechnology company’s stock worth $20,166,000 after purchasing an additional 93,107 shares during the period. TD Asset Management Inc increased its holdings in Bio-Techne by 9.7% in the fourth quarter. TD Asset Management Inc now owns 135,632 shares of the biotechnology company’s stock worth $10,465,000 after purchasing an additional 11,947 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Bio-Techne by 152.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 32,378 shares of the biotechnology company’s stock valued at $2,498,000 after buying an additional 19,530 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on TECH shares. Royal Bank of Canada lowered their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Robert W. Baird lifted their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.60.

Bio-Techne Trading Down 2.6 %

TECH opened at $78.30 on Friday. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The firm has a market capitalization of $12.34 billion, a PE ratio of 62.14, a P/E/G ratio of 5.06 and a beta of 1.27. 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 company’s 50-day moving average is $75.25 and its 200 day moving average is $73.99.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The firm had revenue of $306.10 million during the quarter, compared to the consensus estimate of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. As a group, research analysts predict that Bio-Techne Co. will post 1.71 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, August 19th. Bio-Techne’s dividend payout ratio is 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.