ArrowMark Colorado Holdings LLC Sells 521,491 Shares of Bio-Techne Co. (NASDAQ:TECH)

ArrowMark Colorado Holdings LLC decreased its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 42.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 708,520 shares of the biotechnology company’s stock after selling 521,491 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.45% of Bio-Techne worth $56,632,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bio-Techne in the third quarter worth about $313,000. American Capital Management Inc. grew its stake in shares of Bio-Techne by 2.5% in the 3rd quarter. American Capital Management Inc. now owns 1,114,393 shares of the biotechnology company’s stock worth $89,073,000 after buying an additional 27,508 shares in the last quarter. Suvretta Capital Management LLC bought a new stake in shares of Bio-Techne in the 3rd quarter worth about $208,000. Hantz Financial Services Inc. raised its position in shares of Bio-Techne by 6.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 13,960 shares of the biotechnology company’s stock valued at $1,116,000 after buying an additional 834 shares in the last quarter. Finally, PEAK6 Investments LLC bought a new position in shares of Bio-Techne in the 3rd quarter valued at about $698,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TECH shares. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank upped their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada decreased their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Robert W. Baird boosted their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Benchmark reiterated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and an average price target of $81.78.

Bio-Techne Stock Performance

TECH opened at $75.36 on Monday. The stock has a market cap of $11.97 billion, a P/E ratio of 80.17, a P/E/G ratio of 5.50 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The firm has a fifty day moving average price of $73.57 and a 200 day moving average price of $74.97. Bio-Techne Co. has a 1 year low of $61.16 and a 1 year high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. Equities research analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid 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 yield of 0.42%. Bio-Techne’s dividend payout ratio is presently 34.04%.

About Bio-Techne

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.