Hilton Capital Management LLC Decreases Holdings in Bio-Techne Co. (NASDAQ:TECH)

Hilton Capital Management LLC lowered its position in Bio-Techne Co. (NASDAQ:TECH) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,669 shares of the biotechnology company’s stock after selling 1,283 shares during the quarter. Hilton Capital Management LLC’s holdings in Bio-Techne were worth $1,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Segall Bryant & Hamill LLC boosted its stake in shares of Bio-Techne by 17.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 477,880 shares of the biotechnology company’s stock valued at $38,197,000 after purchasing an additional 72,011 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Bio-Techne by 0.9% during the third quarter. PNC Financial Services Group Inc. now owns 90,342 shares of the biotechnology company’s stock valued at $7,221,000 after buying an additional 803 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Bio-Techne during the third quarter valued at about $319,000. Caprock Group LLC grew its stake in shares of Bio-Techne by 1.7% during the third quarter. Caprock Group LLC now owns 12,622 shares of the biotechnology company’s stock valued at $1,009,000 after buying an additional 217 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in Bio-Techne by 1.2% during the 3rd quarter. Pathstone Holdings LLC now owns 31,604 shares of the biotechnology company’s stock valued at $2,526,000 after acquiring an additional 381 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Trading Down 0.7 %

NASDAQ TECH opened at $66.37 on Wednesday. The firm has a market capitalization of $10.55 billion, a PE ratio of 70.61, a P/E/G ratio of 4.93 and a beta of 1.28. The stock’s 50 day moving average is $73.97 and its 200 day moving average is $75.35. Bio-Techne Co. has a twelve month low of $61.11 and a twelve month high of $85.57. 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 (NASDAQ:TECH) last issued its quarterly 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 company had revenue of $289.46 million during the quarter, compared to analysts’ expectations of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. Bio-Techne’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. Research analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.48%. Bio-Techne’s payout ratio is currently 34.04%.

Analyst Ratings Changes

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