Bio-Techne (NASDAQ:TECH) Reaches New 1-Year Low – Time to Sell?

Bio-Techne Corp (NASDAQ:TECH) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $45.11 and last traded at $44.9130, with a volume of 865888 shares changing hands. The stock had previously closed at $47.42.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TECH. Benchmark restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. TD Cowen restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings upgraded Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Citigroup lowered their price target on Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.77.

Bio-Techne Trading Down 6.0%

The firm has a market capitalization of $6.98 billion, a P/E ratio of 64.44, a price-to-earnings-growth ratio of 3.59 and a beta of 1.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. The firm has a 50 day moving average price of $53.78 and a two-hundred day moving average price of $59.21.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. On average, equities research analysts expect that Bio-Techne Corp will post 1.72 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

Institutional Trading of Bio-Techne

Hedge funds and other institutional investors have recently modified their holdings of the business. Asset Management One Co. Ltd. raised its holdings in Bio-Techne by 2.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock worth $341,000 after purchasing an additional 153 shares in the last quarter. Accredited Investors Inc. raised its holdings in Bio-Techne by 2.7% during the fourth quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock worth $356,000 after purchasing an additional 161 shares in the last quarter. Allworth Financial LP raised its holdings in Bio-Techne by 28.4% during the third quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 174 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Bio-Techne by 3.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock worth $315,000 after purchasing an additional 181 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its holdings in Bio-Techne by 3.4% during the third quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.