Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by NorthRock Partners LLC

NorthRock Partners LLC boosted its holdings in Bio-Techne Co. (NASDAQ:TECHFree Report) by 31.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,644 shares of the biotechnology company’s stock after purchasing an additional 1,101 shares during the quarter. NorthRock Partners LLC’s holdings in Bio-Techne were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new position in Bio-Techne during the fourth quarter worth approximately $31,000. First Horizon Advisors Inc. increased its stake in Bio-Techne by 57.9% in the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 191 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Bio-Techne during the fourth quarter worth about $44,000. Federated Hermes Inc. purchased a new position in shares of Bio-Techne during the third quarter worth about $47,000. Finally, Clear Street Markets LLC increased its position in Bio-Techne by 255.8% in the 3rd quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock valued at $50,000 after acquiring an additional 527 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of Bio-Techne stock traded up $0.97 on Friday, hitting $83.81. The company’s stock had a trading volume of 1,379,971 shares, compared to its average volume of 1,289,914. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $71.02 and a 200-day moving average price of $69.79. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The company has a market capitalization of $13.21 billion, a P/E ratio of 66.51, a price-to-earnings-growth ratio of 9.95 and a beta of 1.23.

Bio-Techne (NASDAQ:TECHGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. The firm had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. On average, equities research analysts expect that Bio-Techne Co. will post 1.56 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.38%. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.

Insiders Place Their Bets

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction that occurred on Thursday, March 7th. The shares were 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 of the company’s stock, valued at approximately $3,317,607.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Friday, February 2nd. Scotiabank started coverage on shares of Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price for the company. Royal Bank of Canada cut their price target on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Stephens reduced their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

View Our Latest Report on TECH

Bio-Techne Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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