Amalgamated Bank Lowers Stake in Bio-Techne Co. (NASDAQ:TECH)

Amalgamated Bank lessened its holdings in Bio-Techne Co. (NASDAQ:TECH) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,878 shares of the biotechnology company’s stock after selling 1,067 shares during the period. Amalgamated Bank’s holdings in Bio-Techne were worth $2,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Itau Unibanco Holding S.A. purchased a new position in Bio-Techne during the second quarter valued at $25,000. Brown Brothers Harriman & Co. raised its position in shares of Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Bio-Techne in the 2nd quarter valued at about $31,000. DT Investment Partners LLC acquired a new stake in Bio-Techne in the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc increased its stake in Bio-Techne by 1,427.8% during the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after buying an additional 514 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Bio-Techne stock opened at $74.69 on Tuesday. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $74.15 and a 200 day moving average price of $75.32. Bio-Techne Co. has a 12-month low of $56.45 and a 12-month high of $85.57. The stock has a market cap of $11.87 billion, a P/E ratio of 79.46, a PEG ratio of 5.54 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. During the same quarter last year, the firm earned $0.35 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a $0.08 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Bio-Techne’s dividend payout ratio is currently 34.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank of Canada lowered their price target on 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. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird upped their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Benchmark reissued a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th. Finally, Scotiabank upped their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $81.78.

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.