Bio-Techne Corp $TECH Position Decreased by Summit Creek Advisors LLC

Summit Creek Advisors LLC decreased its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 28.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,064 shares of the biotechnology company’s stock after selling 36,560 shares during the period. Bio-Techne comprises approximately 2.7% of Summit Creek Advisors LLC’s holdings, making the stock its 7th largest position. Summit Creek Advisors LLC owned about 0.06% of Bio-Techne worth $6,744,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TECH. Root Financial Partners LLC purchased a new position in Bio-Techne during the third quarter valued at $27,000. Cassaday & Co Wealth Management LLC bought a new stake in Bio-Techne during the first quarter valued at about $37,000. Avalon Trust Co purchased a new stake in Bio-Techne in the second quarter worth about $42,000. Allworth Financial LP purchased a new stake in Bio-Techne in the second quarter worth about $59,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Bio-Techne in the second quarter worth about $71,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Up 0.2%

Shares of TECH stock opened at $72.78 on Friday. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. The firm has a market capitalization of $11.43 billion, a PE ratio of 63.29, a PEG ratio of 5.28 and a beta of 1.29. The stock has a fifty day simple moving average of $72.48 and a two-hundred day simple moving average of $63.38.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, November 4th. The biotechnology company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%. The business had revenue of $299.71 million for the quarter, compared to analysts’ expectations of $292.60 million. On average, analysts predict that Bio-Techne Corp will post 1.75 EPS for the current fiscal year.

Bio-Techne Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Friday, November 13th will be given a dividend of $0.08 per share. This is a decrease from Bio-Techne’s previous quarterly dividend of $0.65. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, November 13th. Bio-Techne’s dividend payout ratio (DPR) is 27.83%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Argus downgraded Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 26th. Wells Fargo & Company downgraded Bio-Techne from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $62.00 to $73.00 in a research note on Thursday, August 13th. Zacks Research raised shares of Bio-Techne from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Benchmark restated a “hold” rating on shares of Bio-Techne in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.92.

Bio-Techne Profile