MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 1,221 Shares of Bio-Techne Co. (NASDAQ:TECH)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its position in Bio-Techne Co. (NASDAQ:TECH) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,929 shares of the biotechnology company’s stock after selling 1,221 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Bio-Techne were worth $4,389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Bio-Techne by 46.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,650 shares of the biotechnology company’s stock valued at $1,215,000 after acquiring an additional 5,295 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Bio-Techne by 58.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,298 shares of the biotechnology company’s stock valued at $3,119,000 after acquiring an additional 16,038 shares during the period. Fort Washington Investment Advisors Inc. OH grew its position in shares of Bio-Techne by 11.2% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 254,034 shares of the biotechnology company’s stock valued at $18,298,000 after acquiring an additional 25,650 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Bio-Techne in the 4th quarter valued at about $3,940,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Bio-Techne by 12.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 736,340 shares of the biotechnology company’s stock valued at $52,641,000 after acquiring an additional 79,629 shares during the period. Institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TECH shares. Scotiabank lifted their price objective on shares of Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 6th. Robert W. Baird downgraded shares of Bio-Techne from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $88.00 to $68.00 in a report on Wednesday, February 19th. Baird R W downgraded shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. UBS Group reduced their target price on shares of Bio-Techne from $95.00 to $70.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, Royal Bank of Canada reduced their target price on shares of Bio-Techne from $72.00 to $63.00 and set a “sector perform” rating for the company in a report on Thursday, May 8th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.44.

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $49.15 on Monday. Bio-Techne Co. has a twelve month low of $46.01 and a twelve month high of $84.22. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $53.46 and a two-hundred day simple moving average of $65.45. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 49.65, a price-to-earnings-growth ratio of 2.88 and a beta of 1.46.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data 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 net margin of 13.22% and a return on equity of 12.73%. The business had revenue of $316.18 million during the quarter, compared to analysts’ expectations of $317.92 million. During the same quarter in the previous year, the company earned $0.48 EPS. The business’s revenue was up 4.2% on a year-over-year basis. Analysts forecast that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, May 19th. Bio-Techne’s dividend payout ratio (DPR) is 39.02%.

Bio-Techne declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the biotechnology company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.