Bio-Techne Corp $TECH Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lifted its position in Bio-Techne Corp (NASDAQ:TECH) by 20.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,015,189 shares of the biotechnology company’s stock after buying an additional 169,666 shares during the period. Stephens Investment Management Group LLC’s holdings in Bio-Techne were worth $56,475,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TECH. Blue Trust Inc. grew its holdings in Bio-Techne by 109.7% during the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 237 shares during the period. Allworth Financial LP lifted its holdings in Bio-Techne by 68.1% in the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 248 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Bio-Techne in the 3rd quarter worth approximately $37,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Bio-Techne by 134.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 868 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

TECH has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft set a $72.00 target price on shares of Bio-Techne and gave the company a “buy” rating in a research note on Friday, December 12th. Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a report on Tuesday, October 14th. UBS Group increased their price objective on Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Zacks Research cut Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Techne in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.57.

Bio-Techne Trading Down 1.8%

Bio-Techne stock opened at $68.67 on Friday. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $79.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.81 and a current ratio of 4.22. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 140.15, a P/E/G ratio of 4.82 and a beta of 1.47. The company has a 50 day moving average price of $61.46 and a 200 day moving average price of $57.84.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $286.56 million for the quarter, compared to the consensus estimate of $292.02 million. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. Research analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, November 17th. Bio-Techne’s dividend payout ratio is currently 65.31%.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.