Moody Aldrich Partners LLC decreased its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,213 shares of the biotechnology company’s stock after selling 70 shares during the quarter. Moody Aldrich Partners LLC’s holdings in BIO-TECHNE were worth $320,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of BIO-TECHNE in the 4th quarter worth approximately $95,918,000. Ownership Capital B.V. bought a new stake in shares of BIO-TECHNE in the 1st quarter worth approximately $77,300,000. Champlain Investment Partners LLC lifted its position in shares of BIO-TECHNE by 26.3% in the 1st quarter. Champlain Investment Partners LLC now owns 1,096,205 shares of the biotechnology company’s stock worth $207,862,000 after acquiring an additional 228,530 shares during the period. FDx Advisors Inc. bought a new stake in shares of BIO-TECHNE in the 1st quarter worth approximately $3,015,000. Finally, Clearbridge Investments LLC bought a new stake in shares of BIO-TECHNE in the 1st quarter worth approximately $23,279,000. Hedge funds and other institutional investors own 95.59% of the company’s stock.
A number of analysts have commented on the company. Benchmark assumed coverage on BIO-TECHNE in a research report on Thursday, May 14th. They issued a “buy” rating and a $290.00 price objective for the company. Stephens downgraded BIO-TECHNE from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $253.00 to $273.00 in a research report on Wednesday, July 15th. Citigroup raised their target price on BIO-TECHNE from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Zacks Investment Research upgraded BIO-TECHNE from a “sell” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus downgraded BIO-TECHNE from a “buy” rating to a “hold” rating and raised their target price for the stock from $245.00 to $260.00 in a research report on Wednesday, May 27th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. BIO-TECHNE currently has a consensus rating of “Hold” and an average target price of $248.00.
TECH stock traded down $1.71 during midday trading on Friday, reaching $275.16. 252,276 shares of the company’s stock traded hands, compared to its average volume of 138,403. The company has a 50-day simple moving average of $264.60 and a two-hundred day simple moving average of $227.90. BIO-TECHNE Corp has a 1-year low of $155.17 and a 1-year high of $286.68. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 10.11 and a beta of 1.14. The company has a quick ratio of 3.74, a current ratio of 4.69 and a debt-to-equity ratio of 0.37.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings results on Thursday, April 30th. The biotechnology company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.24. BIO-TECHNE had a return on equity of 13.04% and a net margin of 24.77%. The firm had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $182.32 million. During the same period last year, the firm posted $1.21 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that BIO-TECHNE Corp will post 3.56 EPS for the current year.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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