Janney Montgomery Scott LLC Reduces Bio-Techne Holdings

Janney Montgomery Scott LLC has reduced its investment in Bio-Techne Co. (NASDAQ:TECH) by 5.5% during the fourth quarter, as reported by HoldingsChannel. After selling 629 shares, the institutional investor now holds 10,720 shares of the biotechnology company. The value of Janney Montgomery Scott LLC's holdings in Bio-Techne is approximately $772,000 according to its latest SEC filing.

Other institutional investors and hedge funds have also made adjustments to their positions in Bio-Techne. SG Americas Securities LLC increased its stake by 7.0% in the fourth quarter, now owning 7,001 shares valued at $504,000, after acquiring 456 additional shares. Similarly, Simon Quick Advisors LLC raised its holdings in Bio-Techne by 11.9%, bringing their total to 4,560 shares worth $328,000 after buying an extra 485 shares in the same period. Additionally, Fort Washington Investment Advisors Inc. OH boosted its position in Bio-Techne by 11.2%, now holding 254,034 shares valued at $18,298,000 after picking up an additional 25,650 shares. Meanwhile, MassMutual Private Wealth & Trust FSB increased their stake significantly by 60.4%, now owning 672 shares worth $48,000 after gaining 253 shares. UMB Bank n.a. also expanded its position by 46.4%, now having 530 shares valued at $38,000 after an additional 168 shares were acquired. Overall, about 98.95% of Bio-Techne's stock is currently controlled by institutional investors.

Stock Performance of Bio-Techne

Bio-Techne shares saw a decrease of 2.9% recently, opening at $72.81. The company has a 50-day moving average of $74.61 and a 200-day moving average of $74.37. Bio-Techne displays solid financial ratios, including a quick ratio of 3.26, a current ratio of 4.56, and a manageable debt-to-equity ratio of 0.14. Over the past year, the stock has ranged from a low of $61.16 to a high of $85.57, with a total market capitalization of $11.57 billion. The company's price-to-earnings (P/E) ratio stands at 77.46, signifying its valuation in the market.

Earnings Announcement and Dividend Declaration

Recently, Bio-Techne announced its quarterly earnings, reporting earnings per share (EPS) of $0.35, falling short of the consensus estimate of $0.38 by $0.03. The company recorded a net margin of 12.86% and a return on equity of 12.76%. Analysts are projecting that Bio-Techne will achieve an EPS of 1.68 for the current year. In addition, the firm declared a quarterly dividend to be paid on February 28th. Shareholders on record as of February 17th will receive a dividend of $0.08, representing a total annual dividend of $0.32 and a yield of 0.44%. The ex-dividend date for this distribution is set for February 14th, and Bio-Techne maintains a current dividend payout ratio of 34.04%.

Analyst Ratings and Price Targets

Various equity research analysts have recently updated their ratings and price targets for Bio-Techne. KeyCorp raised its price target from $80.00 to $90.00 while assigning an “overweight” rating. StockNews.com upgraded its rating from “hold” to “buy.” Scotiabank also improved its target price from $88.00 to $90.00, marking the company as “sector outperform.” Robert W. Baird has adjusted their price target from $82.00 to $84.00 with an “outperform” rating, while Royal Bank of Canada increased their price objective to $80.00 with a “sector perform” rating. In summary, two analysts hold a “hold” rating for the stock while six have provided a “buy” rating, indicating a general consensus of a “Moderate Buy” with an average price target of $86.57 as per MarketBeat.com.

Insider Transactions

In related news, Bio-Techne CEO Kim Kelderman sold 13,392 shares of the company in a transaction that took place on January 27th, at an average price of $77.29, totaling $1,035,067.68. After this sale, the CEO retains ownership of 39,004 shares valued at approximately $3,014,619.16, which reflects a 25.56% drop in their shareholding. This transaction was reported in a legal filing with the SEC. Corporate insiders now hold about 3.90% of the company.

Overview of Bio-Techne Corporation

Bio-Techne specializes in developing, manufacturing, and selling life science reagents, instruments, and services tailored for both research and clinical diagnostic markets. The company's operations extend globally, including regions such as the United States, the United Kingdom, Europe, the Middle East, Africa, Greater China, and the Asia-Pacific region.

investors, biotechnology, stocks