Bio-Techne (NASDAQ:TECH) Sets New 12-Month Low - Should You Sell?

Bio-Techne Co. (NASDAQ:TECH - Get Free Report)'s share price hit a new 52-week low on Monday . The stock traded as low as $46.43 and last traded at $46.97, with a volume of 89433 shares. The stock had previously closed at $48.10.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Robert W. Baird cut shares of Bio-Techne from an "outperform" rating to a "neutral" rating and cut their price target for the company from $88.00 to $68.00 in a research report on Wednesday, February 19th. Citigroup decreased their price target on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Scotiabank increased their price target on Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 6th. Evercore ISI began coverage on Bio-Techne in a report on Tuesday, March 18th. They set an "outperform" rating and a $75.00 price target for the company. Finally, StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $81.14.

Bio-Techne Price Performance

The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 50.73, a P/E/G ratio of 2.88 and a beta of 1.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.77 and a current ratio of 3.94. The business has a 50 day simple moving average of $58.02 and a 200-day simple moving average of $68.11.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. Equities research analysts expect that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.63%. Bio-Techne's dividend payout ratio is currently 32.32%.

Insiders Place Their Bets

In other Bio-Techne news, Director Amy E. Herr sold 1,860 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the transaction, the director now directly owns 1,976 shares in the company, valued at $130,336.96. This represents a 48.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $77.29, for a total value of $1,035,067.68. Following the completion of the transaction, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Bio-Techne

Institutional investors and hedge funds have recently bought and sold shares of the business. Bradley Foster & Sargent Inc. CT grew its position in shares of Bio-Techne by 1.5% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 10,799 shares of the biotechnology company's stock worth $778,000 after buying an additional 160 shares during the period. UMB Bank n.a. lifted its stake in shares of Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 168 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Bio-Techne by 1.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 11,967 shares of the biotechnology company's stock worth $862,000 after purchasing an additional 173 shares during the period. Fifth Third Bancorp raised its stake in Bio-Techne by 2.3% during the 4th quarter. Fifth Third Bancorp now owns 8,394 shares of the biotechnology company's stock worth $605,000 after acquiring an additional 189 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Bio-Techne by 35.0% during the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

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.