Leavell Investment Management Inc. Lowers Stake in Bio-Techne Corp $TECH

Leavell Investment Management Inc. cut its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,997 shares of the biotechnology company’s stock after selling 2,360 shares during the quarter. Leavell Investment Management Inc.’s holdings in Bio-Techne were worth $2,264,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in Bio-Techne by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 11,210 shares of the biotechnology company’s stock valued at $657,000 after buying an additional 490 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Bio-Techne by 12.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 136,541 shares of the biotechnology company’s stock valued at $8,009,000 after acquiring an additional 15,506 shares in the last quarter. Diversified Trust Co boosted its position in Bio-Techne by 10.0% during the 1st quarter. Diversified Trust Co now owns 13,824 shares of the biotechnology company’s stock worth $811,000 after purchasing an additional 1,260 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Bio-Techne by 17.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,630 shares of the biotechnology company’s stock worth $1,153,000 after purchasing an additional 2,980 shares during the period. Finally, Amalgamated Bank increased its holdings in Bio-Techne by 0.7% in the 1st quarter. Amalgamated Bank now owns 30,646 shares of the biotechnology company’s stock valued at $1,797,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $65.90 on Friday. The firm’s 50-day simple moving average is $56.44 and its 200 day simple moving average is $53.03. The stock has a market cap of $10.26 billion, a P/E ratio of 143.26, a P/E/G ratio of 3.85 and a beta of 1.48. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $80.80.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $316.96 million for the quarter, compared to the consensus estimate of $315.14 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. Equities analysts expect that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne’s payout ratio is presently 69.57%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TECH. Scotiabank decreased their price objective on shares of Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating for the company in a research report on Friday, July 11th. Evercore ISI upped their target price on Bio-Techne from $60.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Bio-Techne in a research report on Friday. Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research report on Tuesday, October 14th. Finally, TD Cowen lifted their price target on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $70.58.

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.