Everence Capital Management Inc. Trims Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Everence Capital Management Inc. lessened its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 38.7% during the 4th quarter, Holdings Channel reports. The firm owned 4,350 shares of the biotechnology company’s stock after selling 2,750 shares during the quarter. Everence Capital Management Inc.’s holdings in Bio-Techne were worth $313,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Bio-Techne in the second quarter valued at approximately $25,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 369 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Bio-Techne in the third quarter worth $39,000. Quest Partners LLC purchased a new position in shares of Bio-Techne during the third quarter worth $43,000. Finally, Mather Group LLC. lifted its position in Bio-Techne by 51.5% during the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 208 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

Shares of TECH stock opened at $74.25 on Tuesday. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 12-month low of $61.16 and a 12-month high of $85.57. The business’s 50 day moving average is $73.80 and its two-hundred day moving average is $74.16. The company has a market capitalization of $11.80 billion, a P/E ratio of 78.99, a P/E/G ratio of 5.52 and a beta of 1.27.

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

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio (DPR) is 34.04%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Scotiabank increased their price target on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird boosted their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.00.

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.