Bio-Techne (NASDAQ:TECH) Sets New 12-Month Low – Time to Sell?

Bio-Techne Co. (NASDAQ:TECH) shares reached a new 52-week low on Wednesday . The company traded as low as $58.20 and last traded at $58.47, with a volume of 3067751 shares trading hands. The stock had previously closed at $62.90.

Wall Street Analyst Weigh In

TECH has been the subject of a number of analyst reports. Scotiabank increased their price target on Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their target price on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Robert W. Baird downgraded Bio-Techne from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. KeyCorp upped their price target on Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Citigroup reduced their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $82.14.

Bio-Techne Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.77 and a current ratio of 3.94. The firm has a fifty day simple moving average of $70.43 and a two-hundred day simple moving average of $72.62. The firm has a market cap of $9.24 billion, a PE ratio of 59.06, a PEG ratio of 2.88 and a beta of 1.30.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. Equities analysts predict that Bio-Techne Co. will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, February 14th. Bio-Techne’s dividend payout ratio is 32.32%.

Insider Activity at Bio-Techne

In related news, Director Amy E. Herr sold 1,860 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $65.96, for a total transaction of $122,685.60. Following the sale, the director now owns 1,976 shares in the company, valued at approximately $130,336.96. This represents a 48.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $77.29, for a total value of $1,035,067.68. Following the sale, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Bio-Techne

Several hedge funds and other institutional investors have recently made changes to their positions in TECH. Mirae Asset Global Investments Co. Ltd. grew its holdings in Bio-Techne by 46.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,650 shares of the biotechnology company’s stock valued at $1,215,000 after purchasing an additional 5,295 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Bio-Techne by 58.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,298 shares of the biotechnology company’s stock valued at $3,119,000 after buying an additional 16,038 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Bio-Techne during the third quarter valued at approximately $1,188,000. Broadcrest Asset Management LLC raised its holdings in shares of Bio-Techne by 100.0% in the third quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock worth $15,986,000 after buying an additional 100,000 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Bio-Techne during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

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.