Bio-Techne Corp $TECH Stock Holdings Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 52.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,358,823 shares of the biotechnology company’s stock after buying an additional 470,339 shares during the quarter. JPMorgan Chase & Co.’s holdings in Bio-Techne were worth $69,911,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. increased its holdings in shares of Bio-Techne by 129.8% in the 1st quarter. Select Equity Group L.P. now owns 5,366,003 shares of the biotechnology company’s stock valued at $314,609,000 after acquiring an additional 3,030,644 shares during the last quarter. RGM Capital LLC bought a new stake in Bio-Techne during the first quarter valued at $59,267,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Bio-Techne by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,375,279 shares of the biotechnology company’s stock worth $666,933,000 after purchasing an additional 721,012 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Bio-Techne in the 1st quarter worth about $39,658,000. Finally, Maverick Capital Ltd. acquired a new position in shares of Bio-Techne in the 1st quarter valued at about $30,657,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.4%

TECH opened at $64.35 on Friday. The stock’s 50 day moving average price is $60.08 and its 200 day moving average price is $54.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The stock has a market cap of $10.03 billion, a P/E ratio of 139.88, a P/E/G ratio of 3.63 and a beta of 1.51. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $79.28.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $286.56 million during the quarter, compared to analysts’ expectations of $292.02 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. As a group, research analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, November 17th. Bio-Techne’s payout ratio is 65.31%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TECH shares. Citigroup raised shares of Bio-Techne from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $70.00 in a report on Thursday, August 21st. Argus raised their price target on Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Cowen restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. Evercore ISI set a $68.00 target price on Bio-Techne in a research report on Thursday, November 6th. Finally, Wells Fargo & Company boosted their price target on shares of Bio-Techne from $59.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.92.

Bio-Techne Company Profile

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.