Rhumbline Advisers boosted its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 26.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,331 shares of the biotechnology company’s stock after purchasing an additional 27,014 shares during the period. Rhumbline Advisers owned about 0.34% of BIO-TECHNE worth $18,572,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Advisors Asset Management Inc. increased its holdings in shares of BIO-TECHNE by 2.0% in the fourth quarter. Advisors Asset Management Inc. now owns 11,467 shares of the biotechnology company’s stock valued at $1,660,000 after purchasing an additional 220 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in BIO-TECHNE by 9.0% during the 4th quarter. Xact Kapitalforvaltning AB now owns 6,037 shares of the biotechnology company’s stock worth $874,000 after acquiring an additional 500 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in BIO-TECHNE by 3.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 18,274 shares of the biotechnology company’s stock worth $2,644,000 after acquiring an additional 592 shares during the period. Pendal Group Ltd grew its holdings in BIO-TECHNE by 18.3% during the 4th quarter. Pendal Group Ltd now owns 4,641 shares of the biotechnology company’s stock worth $672,000 after acquiring an additional 717 shares during the period. Finally, Bradley Foster & Sargent Inc. CT acquired a new stake in BIO-TECHNE during the 4th quarter worth $747,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.
A number of analysts have commented on the stock. Craig Hallum reaffirmed a “hold” rating and set a $179.00 target price (up previously from $154.00) on shares of BIO-TECHNE in a report on Tuesday, February 5th. ValuEngine raised shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 5th. Goldman Sachs Group assumed coverage on shares of BIO-TECHNE in a report on Wednesday, October 17th. They set a “neutral” rating and a $190.00 target price for the company. BidaskClub lowered shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Finally, Zacks Investment Research lowered shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $188.13.
Shares of NASDAQ TECH opened at $183.73 on Monday. The firm has a market cap of $6.94 billion, a PE ratio of 45.14, a PEG ratio of 4.15 and a beta of 1.18. BIO-TECHNE Corp has a twelve month low of $129.72 and a twelve month high of $206.04. The company has a current ratio of 4.35, a quick ratio of 3.31 and a debt-to-equity ratio of 0.49.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, February 5th. The biotechnology company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. The company had revenue of $174.50 million for the quarter, compared to analysts’ expectations of $171.39 million. BIO-TECHNE had a net margin of 14.02% and a return on equity of 13.90%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. As a group, equities analysts anticipate that BIO-TECHNE Corp will post 3.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.70%. BIO-TECHNE’s dividend payout ratio is 31.45%.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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