Icon Wealth Advisors LLC Sells 4,362 Shares of Bio-Techne Co. (NASDAQ:TECH)

Icon Wealth Advisors LLC decreased its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 73.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,612 shares of the biotechnology company’s stock after selling 4,362 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Bio-Techne were worth $129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TECH. Itau Unibanco Holding S.A. bought a new stake in shares of Bio-Techne in the 2nd quarter valued at about $25,000. Brown Brothers Harriman & Co. raised its stake in shares of Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Bio-Techne during the 2nd quarter worth approximately $31,000. DT Investment Partners LLC bought a new position in shares of Bio-Techne during the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc raised its stake in shares of Bio-Techne by 1,427.8% during the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 514 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $71.28 on Monday. The firm has a 50-day simple moving average of $73.77 and a 200-day simple moving average of $75.22. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 75.83, a price-to-earnings-growth ratio of 5.20 and a beta of 1.28. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. Bio-Techne’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts predict that Bio-Techne Co. will post 1.68 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, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Analyst Ratings Changes

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

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.