Icon Wealth Advisors LLC Cuts Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Icon Wealth Advisors LLC trimmed its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 32.3% in the third quarter, Holdings Channel reports. The firm owned 4,043 shares of the biotechnology company’s stock after selling 1,931 shares during the period. Icon Wealth Advisors LLC’s holdings in Bio-Techne were worth $323,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in Bio-Techne by 135.5% during the 1st quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock worth $2,252,000 after acquiring an additional 18,404 shares in the last quarter. Comerica Bank increased its stake in Bio-Techne by 14.8% during the 1st quarter. Comerica Bank now owns 53,246 shares of the biotechnology company’s stock worth $3,748,000 after buying an additional 6,845 shares during the period. Cetera Investment Advisers boosted its position in Bio-Techne by 135.4% in the 1st quarter. Cetera Investment Advisers now owns 23,423 shares of the biotechnology company’s stock valued at $1,649,000 after buying an additional 13,474 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Bio-Techne during the first quarter valued at about $401,000. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Bio-Techne by 3.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 17,926 shares of the biotechnology company’s stock worth $1,239,000 after acquiring an additional 599 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Trading Down 0.0 %

NASDAQ TECH opened at $75.36 on Friday. The firm has a market capitalization of $11.97 billion, a PE ratio of 80.17, a price-to-earnings-growth ratio of 5.50 and a beta of 1.28. Bio-Techne Co. has a one year low of $61.16 and a one year high of $85.57. The company has a 50-day simple moving average of $73.63 and a 200-day simple moving average of $75.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The company 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%. Bio-Techne’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

The business 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 was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Bio-Techne’s payout ratio is currently 34.04%.

Wall Street Analyst Weigh In

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

Bio-Techne 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.