DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Purchases 13,525 Shares of Bio-Techne Co. (NASDAQ:TECH)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Bio-Techne Co. (NASDAQ:TECH) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,904 shares of the biotechnology company’s stock after acquiring an additional 13,525 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned about 0.10% of Bio-Techne worth $11,662,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. UMB Bank n.a. grew its holdings in Bio-Techne by 46.4% during the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 168 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Bio-Techne during the 4th quarter worth approximately $41,000. GeoWealth Management LLC bought a new stake in Bio-Techne in the 4th quarter valued at $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 253 shares during the last quarter. Finally, Huntington National Bank boosted its position in Bio-Techne by 42.6% during the fourth quarter. Huntington National Bank now owns 1,078 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 322 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bio-Techne news, Director Amy E. Herr sold 1,860 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $65.96, for a total transaction of $122,685.60. Following the sale, the director now owns 1,976 shares of the company’s stock, valued at approximately $130,336.96. The trade was a 48.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $49.98 on Friday. The company has a current ratio of 3.94, a quick ratio of 2.77 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $7.90 billion, a PE ratio of 50.48, a PEG ratio of 2.88 and a beta of 1.46. The firm has a 50 day moving average of $54.68 and a 200-day moving average of $66.24. Bio-Techne Co. has a 12 month low of $46.01 and a 12 month high of $85.57.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. The firm had revenue of $316.18 million during the quarter, compared to analysts’ expectations of $317.92 million. During the same period in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts predict that Bio-Techne Co. will post 1.67 EPS for the current fiscal year.

Bio-Techne declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the biotechnology company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Monday, May 19th. Bio-Techne’s dividend payout ratio is presently 32.32%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TECH shares. Stifel Nicolaus reduced their target price on shares of Bio-Techne from $75.00 to $60.00 and set a “hold” rating for the company in a report on Thursday. Benchmark decreased their target price on Bio-Techne from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group reduced their price target on Bio-Techne from $95.00 to $70.00 and set a “buy” rating for the company in a research note on Friday. Baird R W downgraded Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Citigroup decreased their price target on shares of Bio-Techne from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bio-Techne presently has a consensus rating of “Hold” and an average price target of $73.44.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.