Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lowered its position in Bio-Techne Co. (NASDAQ:TECH) by 73.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,612 shares of the biotechnology company’s stock after selling 4,362 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Bio-Techne were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC increased its position in shares of Bio-Techne by 17.7% during the third quarter. Segall Bryant & Hamill LLC now owns 477,880 shares of the biotechnology company’s stock worth $38,197,000 after acquiring an additional 72,011 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Bio-Techne by 0.9% during the third quarter. PNC Financial Services Group Inc. now owns 90,342 shares of the biotechnology company’s stock worth $7,221,000 after acquiring an additional 803 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Bio-Techne during the third quarter worth about $319,000. Caprock Group LLC increased its position in shares of Bio-Techne by 1.7% during the third quarter. Caprock Group LLC now owns 12,622 shares of the biotechnology company’s stock worth $1,009,000 after acquiring an additional 217 shares during the last quarter. Finally, Pathstone Holdings LLC increased its position in shares of Bio-Techne by 1.2% during the third quarter. Pathstone Holdings LLC now owns 31,604 shares of the biotechnology company’s stock worth $2,526,000 after acquiring an additional 381 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of TECH stock opened at $71.28 on Monday. 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 business has a 50 day moving average of $73.77 and a two-hundred day moving average of $75.22. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The company has a market cap of $11.33 billion, a P/E ratio of 75.83, a PEG ratio of 5.20 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating 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 company had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. During the same period in the previous year, the firm posted $0.35 earnings per share. Bio-Techne’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given 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 0.45%. Bio-Techne’s dividend payout ratio is presently 34.04%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TECH shares. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank boosted their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Robert W. Baird boosted their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada lowered their price objective 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. Finally, Benchmark reissued a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.78.

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.