William Blair Investment Management LLC Has $141.04 Million Holdings in Bio-Techne Corp $TECH

William Blair Investment Management LLC boosted its holdings in shares of Bio-Techne Corp (NASDAQ:TECHFree Report) by 40.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,398,265 shares of the biotechnology company’s stock after acquiring an additional 688,603 shares during the quarter. William Blair Investment Management LLC’s holdings in Bio-Techne were worth $141,042,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Asset Management One Co. Ltd. boosted its position in Bio-Techne by 2.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock worth $341,000 after acquiring an additional 153 shares during the period. Accredited Investors Inc. boosted its position in Bio-Techne by 2.7% during the 4th quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock worth $356,000 after acquiring an additional 161 shares during the period. Allworth Financial LP boosted its position in Bio-Techne by 28.4% during the 3rd quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 174 shares during the period. Oppenheimer & Co. Inc. boosted its position in Bio-Techne by 3.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock worth $315,000 after acquiring an additional 181 shares during the period. Finally, Angeles Wealth Management LLC boosted its position in Bio-Techne by 3.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company’s stock worth $317,000 after acquiring an additional 189 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Up 1.8%

Shares of TECH stock opened at $48.21 on Friday. The stock’s 50 day simple moving average is $52.21 and its 200 day simple moving average is $58.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 69.87, a PEG ratio of 3.75 and a beta of 1.41.

Bio-Techne (NASDAQ:TECHGet Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, research analysts predict that Bio-Techne Corp will post 1.69 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s payout ratio is currently 46.38%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TECH shares. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Robert W. Baird set a $49.00 price target on Bio-Techne in a research note on Thursday, May 7th. Royal Bank Of Canada set a $62.00 price target on Bio-Techne and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a research note on Thursday, May 7th. Finally, Wells Fargo & Company cut their price target on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.92.

Get Our Latest Stock Report on TECH

Bio-Techne Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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