Vanguard Group Inc. Reduces Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Vanguard Group Inc. cut its holdings in Bio-Techne Co. (NASDAQ:TECH) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the 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 0.12% of Bio-Techne worth $1,406,489,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lindbrook Capital LLC grew its stake in shares of Bio-Techne by 23.8% in the fourth quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 177 shares in the last quarter. Czech National Bank grew its stake in shares of Bio-Techne by 0.7% in the fourth quarter. Czech National Bank now owns 27,698 shares of the biotechnology company’s stock worth $2,137,000 after acquiring an additional 181 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Bio-Techne by 57.9% in the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 191 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Bio-Techne by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 43,344 shares of the biotechnology company’s stock valued at $3,344,000 after purchasing an additional 200 shares during the period. Finally, Wahed Invest LLC increased its holdings in Bio-Techne by 9.0% during the 4th quarter. Wahed Invest LLC now owns 2,652 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 220 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $74.54 on Thursday. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $89.91. The firm’s fifty day simple moving average is $74.63 and its 200-day simple moving average is $72.77. The stock has a market cap 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.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, topping 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 business had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. During the same quarter in the previous year, the company earned $0.47 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that Bio-Techne Co. will post 1.56 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Bio-Techne’s payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price objective on Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Benchmark restated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Thursday, May 2nd. Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a research note on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $81.00.

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.