Bio-Techne Co. (NASDAQ:TECH) Stock Holdings Lowered by Sei Investments Co.

Sei Investments Co. cut its position in Bio-Techne Co. (NASDAQ:TECH) by 20.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 633,231 shares of the biotechnology company’s stock after selling 166,001 shares during the quarter. Sei Investments Co.’s holdings in Bio-Techne were worth $45,371,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. increased its stake in shares of Bio-Techne by 922.5% in the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 369 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in Bio-Techne in the 2nd quarter valued at approximately $31,000. DT Investment Partners LLC bought a new stake in Bio-Techne during the 2nd quarter valued at $36,000. Mather Group LLC. acquired a new position in Bio-Techne during the 1st quarter worth $38,000. Finally, Versant Capital Management Inc grew its stake in shares of Bio-Techne by 1,427.8% in the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 514 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Trading Down 2.6 %

Shares of NASDAQ:TECH opened at $78.30 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 5.06 and a beta of 1.27. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $85.57. The company has a 50 day moving average price of $75.25 and a 200 day moving average price of $73.98.

Bio-Techne (NASDAQ:TECH) last issued its earnings results 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 business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. During the same period in the previous year, the firm posted $0.56 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts anticipate that Bio-Techne Co. will post 1.71 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s payout ratio is 25.40%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective 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. Benchmark restated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, 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 on the stock in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.60.

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.