Summit Creek Advisors LLC Trims Stock Holdings in Bio-Techne Corp $TECH

Summit Creek Advisors LLC reduced its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 5.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 303,725 shares of the biotechnology company’s stock after selling 16,450 shares during the period. Bio-Techne comprises 2.5% of Summit Creek Advisors LLC’s portfolio, making the stock its 11th biggest position. Summit Creek Advisors LLC’s holdings in Bio-Techne were worth $16,896,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Segall Bryant & Hamill LLC raised its holdings in shares of Bio-Techne by 9.5% in the second quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock valued at $29,100,000 after acquiring an additional 48,838 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Bio-Techne by 8.0% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock valued at $26,386,000 after purchasing an additional 35,165 shares during the period. Charles Schwab Investment Management Inc. increased its position in Bio-Techne by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after purchasing an additional 41,180 shares during the period. Park Avenue Securities LLC bought a new stake in shares of Bio-Techne in the 2nd quarter valued at about $270,000. Finally, 4D Advisors LLC purchased a new stake in shares of Bio-Techne in the 2nd quarter worth approximately $2,058,000. Institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TECH. Zacks Research lowered shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Wells Fargo & Company increased their target price on Bio-Techne from $59.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. TD Cowen lifted their price target on Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Argus boosted their price target on Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Finally, UBS Group upped their price objective on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and an average target price of $70.57.

Bio-Techne Stock Performance

Shares of TECH opened at $65.70 on Monday. The company has a current ratio of 4.22, a quick ratio of 2.81 and a debt-to-equity ratio of 0.15. The firm has a market cap of $10.24 billion, a PE ratio of 134.08, a P/E/G ratio of 4.53 and a beta of 1.47. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $79.28. The stock has a fifty day moving average price of $60.62 and a 200-day moving average price of $57.36.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.The firm had revenue of $286.56 million for the quarter, compared to the consensus estimate of $292.02 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, November 17th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio is 65.31%.

Bio-Techne Profile

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.