Amalgamated Bank Has $2.29 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Amalgamated Bank lessened its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 7.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 31,945 shares of the biotechnology company’s stock after selling 2,396 shares during the quarter. Amalgamated Bank’s holdings in Bio-Techne were worth $2,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Mutual of America Capital Management LLC raised its holdings in Bio-Techne by 59.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 32,821 shares of the biotechnology company’s stock worth $2,352,000 after acquiring an additional 12,234 shares during the period. Virtu Financial LLC acquired a new stake in shares of Bio-Techne in the second quarter valued at about $1,591,000. Dimensional Fund Advisors LP increased its stake in shares of Bio-Techne by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock worth $64,082,000 after purchasing an additional 76,641 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after purchasing an additional 88,257 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Bio-Techne by 922.5% during the 2nd 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. Institutional investors own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada cut their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Finally, Robert W. Baird raised their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Four 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 a consensus rating of “Moderate Buy” and a consensus price target of $80.60.

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $77.42 on Wednesday. The firm has a market cap of $12.20 billion, a P/E ratio of 61.44, a price-to-earnings-growth ratio of 5.06 and a beta of 1.27. The firm’s 50-day simple moving average is $75.20 and its 200-day simple moving average is $73.99. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $85.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87.

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

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. 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.