Natixis Advisors LLC raised its holdings in shares of Bio-Techne Corp (NASDAQ:TECH – Free Report) by 432.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 753,280 shares of the biotechnology company’s stock after purchasing an additional 611,892 shares during the quarter. Natixis Advisors LLC owned 0.48% of Bio-Techne worth $44,300,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of TECH. Danske Bank A S acquired a new stake in Bio-Techne during the 4th quarter valued at approximately $29,000. eCIO Inc. acquired a new stake in Bio-Techne during the 4th quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC acquired a new stake in Bio-Techne during the 3rd quarter valued at approximately $32,000. iSAM Funds UK Ltd acquired a new stake in Bio-Techne during the 3rd quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC grew its stake in 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. Institutional investors and hedge funds own 98.95% of the company’s stock.
Bio-Techne Trading Up 2.2%
Shares of NASDAQ:TECH opened at $50.85 on Thursday. The company has a market cap of $7.96 billion, a PE ratio of 73.70, a P/E/G ratio of 3.87 and a beta of 1.37. The company’s 50-day moving average price is $52.01 and its 200 day moving average price is $57.67. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.16. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10.
Bio-Techne Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.6%. Bio-Techne’s payout ratio is presently 46.38%.
Analysts Set New Price Targets
A number of research firms have commented on TECH. Stifel Nicolaus set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. UBS Group reaffirmed a “buy” rating and set a $79.00 target price (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Royal Bank Of Canada set a $62.00 target price on Bio-Techne and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, Robert W. Baird set a $49.00 target price on Bio-Techne in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.92.
Read Our Latest Stock Analysis on Bio-Techne
About Bio-Techne
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.
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