Stephens Investment Management Group LLC increased its holdings in shares of Bio-Techne Corp (NASDAQ:TECH – Free Report) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,109,658 shares of the biotechnology company’s stock after acquiring an additional 94,469 shares during the period. Stephens Investment Management Group LLC’s holdings in Bio-Techne were worth $65,259,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Bio-Techne by 349.8% during the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock worth $284,555,000 after purchasing an additional 3,978,026 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Bio-Techne by 164.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock valued at $235,994,000 after buying an additional 2,495,328 shares during the last quarter. Invesco Ltd. boosted its stake in Bio-Techne by 7.7% during the third quarter. Invesco Ltd. now owns 3,946,028 shares of the biotechnology company’s stock valued at $219,518,000 after buying an additional 283,303 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Bio-Techne by 32.3% during the third quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock valued at $183,975,000 after buying an additional 807,147 shares during the last quarter. Finally, Mairs & Power Inc. boosted its stake in Bio-Techne by 3.4% during the third quarter. Mairs & Power Inc. now owns 2,807,409 shares of the biotechnology company’s stock valued at $156,176,000 after buying an additional 91,031 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.
Bio-Techne Price Performance
NASDAQ:TECH opened at $43.30 on Friday. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 62.75, a PEG ratio of 3.27 and a beta of 1.41. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.16. The business has a 50 day simple moving average of $52.99 and a 200-day simple moving average of $58.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18.
Bio-Techne Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is presently 46.38%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on TECH. Citigroup dropped their price target on Bio-Techne from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. UBS Group reissued a “buy” rating and set a $79.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Benchmark reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. Finally, Evercore set a $50.00 price target on Bio-Techne in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.92.
View Our Latest Stock Report on TECH
Bio-Techne 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.
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