Bio-Techne (NASDAQ:TECH) Hits New 12-Month Low - Time to Sell?

Bio-Techne Co. (NASDAQ:TECH - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $55.36 and last traded at $55.73, with a volume of 203836 shares. The stock had previously closed at $58.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore ISI started coverage on Bio-Techne in a report on Tuesday, March 18th. They set an "outperform" rating and a $75.00 price target on the stock. Citigroup dropped their price target on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Royal Bank of Canada increased their price objective on shares of Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. KeyCorp upped their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.25.

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Bio-Techne Trading Down 6.7 %

The company's 50 day moving average price is $63.95 and its two-hundred day moving average price is $70.58. The firm has a market cap of $7.72 billion, a PE ratio of 49.30, a P/E/G ratio of 2.88 and a beta of 1.45. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14.

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

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 0.66%. Bio-Techne's dividend payout ratio (DPR) is 32.32%.

Insider Activity

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the sale, the chief executive officer now owns 39,004 shares of the company's stock, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy E. Herr sold 1,860 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $65.96, for a total transaction of $122,685.60. Following the transaction, the director now owns 1,976 shares of the company's stock, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their position. 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 have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Bio-Techne by 3,534.0% in the 1st quarter. GAMMA Investing LLC now owns 105,241 shares of the biotechnology company's stock valued at $6,170,000 after acquiring an additional 102,345 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of Bio-Techne by 32.9% in the first quarter. Central Pacific Bank Trust Division now owns 3,070 shares of the biotechnology company's stock worth $180,000 after purchasing an additional 760 shares during the last quarter. First Hawaiian Bank raised its stake in shares of Bio-Techne by 6.1% in the first quarter. First Hawaiian Bank now owns 5,152 shares of the biotechnology company's stock worth $302,000 after purchasing an additional 298 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Bio-Techne by 4.0% during the fourth quarter. California State Teachers Retirement System now owns 249,350 shares of the biotechnology company's stock worth $17,961,000 after purchasing an additional 9,625 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in Bio-Techne in the 4th quarter worth approximately $3,661,000. Institutional investors and hedge funds own 98.95% of the company's stock.

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.