Amalgamated Bank Sells 3,185 Shares of Bio-Techne Co. (NASDAQ:TECH)

Posted by Defense World Staff on Jul 28th, 2023

Amalgamated Bank reduced its stake in shares of Bio-Techne Co. (NASDAQ:TECH – Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,553 shares of the biotechnology company’s stock after selling 3,185 shares during the quarter. Amalgamated Bank’s holdings in Bio-Techne were worth $4,270,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Harbour Investments Inc. grew its stake in shares of Bio-Techne by 305.0% during the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 244 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Bio-Techne during the fourth quarter valued at approximately $29,000. Financial Freedom LLC bought a new position in shares of Bio-Techne during the first quarter valued at approximately $30,000. Ellevest Inc. grew its stake in shares of Bio-Techne by 176.9% during the fourth quarter. Ellevest Inc. now owns 479 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 306 shares during the last quarter. Finally, Private Ocean LLC grew its stake in shares of Bio-Techne by 300.0% during the fourth quarter. Private Ocean LLC now owns 536 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 402 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bio-Techne news, CEO Charles R. Kummeth sold 80,000 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $88.36, for a total transaction of $7,068,800.00. Following the completion of the sale, the chief executive officer now owns 1,258,766 shares in the company, valued at $111,224,563.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.45% of the stock is owned by company insiders.

Bio-Techne Stock Down 1.5 %

Bio-Techne stock opened at $83.68 on Friday. The business has a fifty day moving average of $81.42 and a two-hundred day moving average of $79.29. The company has a quick ratio of 2.84, a current ratio of 4.04 and a debt-to-equity ratio of 0.20. The firm has a market cap of $13.17 billion, a P/E ratio of 50.11, a P/E/G ratio of 3.21 and a beta of 1.23. Bio-Techne Co. has a twelve month low of $68.00 and a twelve month high of $99.33.

Bio-Techne (NASDAQ:TECH – Get Free Report) last posted its earnings results on Wednesday, May 3rd. The biotechnology company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. The company had revenue of $294.15 million during the quarter, compared to analyst estimates of $298.55 million. Bio-Techne had a return on equity of 15.31% and a net margin of 24.15%. Bio-Techne’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, analysts forecast that Bio-Techne Co. will post 1.72 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Monday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, May 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.38%. Bio-Techne’s dividend payout ratio is currently 19.16%.

Analyst Ratings Changes

TECH has been the topic of a number of analyst reports. StockNews.com initiated coverage on Bio-Techne in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Robert W. Baird upped their target price on Bio-Techne from $99.00 to $100.00 in a research note on Thursday, May 4th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $104.45.

About Bio-Techne

(Free Report)

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.