Lindbrook Capital LLC Boosts Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Lindbrook Capital LLC grew its holdings in Bio-Techne Co. (NASDAQ:TECH) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 921 shares of the biotechnology company’s stock after acquiring an additional 177 shares during the quarter. Lindbrook Capital LLC’s holdings in Bio-Techne were worth $71,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TECH. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bio-Techne in the third quarter worth about $27,000. CVA Family Office LLC acquired a new stake in Bio-Techne in the fourth quarter worth about $31,000. Federated Hermes Inc. acquired a new stake in Bio-Techne in the third quarter worth about $47,000. Clear Street Markets LLC boosted its holdings in Bio-Techne by 255.8% in the third quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 527 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Bio-Techne by 17.3% in the third quarter. Global Retirement Partners LLC now owns 1,514 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Trading Down 0.3 %

Shares of NASDAQ:TECH opened at $63.52 on Thursday. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91. The company has a market capitalization of $9.98 billion, a PE ratio of 46.03, a PEG ratio of 7.93 and a beta of 1.22. The business has a 50 day moving average of $70.28 and a two-hundred day moving average of $68.58. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $272.60 million during the quarter, compared to analysts’ expectations of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. As a group, analysts forecast that Bio-Techne Co. will post 1.52 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, February 9th. Bio-Techne’s dividend payout ratio (DPR) is presently 23.19%.

Insider Activity

In other news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now directly owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TECH. Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a report on Friday, February 2nd. Stephens decreased their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Scotiabank began coverage on Bio-Techne in a report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 target price for the company. Royal Bank of Canada decreased their target price on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.90.

Bio-Techne 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.