Everence Capital Management Inc. Sells 2,750 Shares of Bio-Techne Co. (NASDAQ:TECH)

Everence Capital Management Inc. cut its stake in Bio-Techne Co. (NASDAQ:TECH) by 38.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,350 shares of the biotechnology company’s stock after selling 2,750 shares during the period. Everence Capital Management Inc.’s holdings in Bio-Techne were worth $313,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Bio-Techne by 60.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,122 shares of the biotechnology company’s stock valued at $2,158,000 after acquiring an additional 11,371 shares in the last quarter. APG Asset Management N.V. raised its position in Bio-Techne by 9.8% during the 2nd quarter. APG Asset Management N.V. now owns 81,138 shares of the biotechnology company’s stock valued at $5,424,000 after purchasing an additional 7,275 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Bio-Techne in the 3rd quarter worth $1,188,000. XTX Topco Ltd lifted its holdings in shares of Bio-Techne by 89.1% in the 2nd quarter. XTX Topco Ltd now owns 17,043 shares of the biotechnology company’s stock worth $1,221,000 after buying an additional 8,032 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Bio-Techne during the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Scotiabank boosted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Bio-Techne Trading Up 0.6 %

NASDAQ TECH opened at $74.25 on Tuesday. The firm has a market cap of $11.80 billion, a PE ratio of 78.99, a price-to-earnings-growth ratio of 5.52 and a beta of 1.27. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $73.80 and a 200 day moving average price of $74.16.

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

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio (DPR) is currently 34.04%.

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.