BNP Paribas Arbitrage SNC Boosts Stock Position in Bio-Techne Co. (NASDAQ:TECH)

BNP Paribas Arbitrage SNC raised its stake in Bio-Techne Co. (NASDAQ:TECH – Get Rating) by 90.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,857 shares of the biotechnology company’s stock after purchasing an additional 27,989 shares during the period. BNP Paribas Arbitrage SNC’s holdings in Bio-Techne were worth $16,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TECH. Mackenzie Financial Corp grew its stake in Bio-Techne by 11,267.9% in the first quarter. Mackenzie Financial Corp now owns 287,268 shares of the biotechnology company’s stock valued at $124,399,000 after purchasing an additional 284,741 shares during the last quarter. Marshall Wace LLP grew its stake in Bio-Techne by 29.8% in the third quarter. Marshall Wace LLP now owns 581,438 shares of the biotechnology company’s stock valued at $165,126,000 after purchasing an additional 133,400 shares during the last quarter. Renaissance Technologies LLC grew its stake in Bio-Techne by 85.3% in the third quarter. Renaissance Technologies LLC now owns 270,944 shares of the biotechnology company’s stock valued at $76,948,000 after purchasing an additional 124,744 shares during the last quarter. Wellington Management Group LLP grew its stake in Bio-Techne by 28.6% in the first quarter. Wellington Management Group LLP now owns 456,934 shares of the biotechnology company’s stock valued at $197,870,000 after purchasing an additional 101,567 shares during the last quarter. Finally, 12 West Capital Management LP purchased a new position in Bio-Techne in the third quarter valued at about $14,952,000. Hedge funds and other institutional investors own 23.92% of the company’s stock.

Bio-Techne Trading Up 2.0 %

Bio-Techne stock opened at $73.27 on Wednesday. The company has a quick ratio of 3.15, a current ratio of 4.40 and a debt-to-equity ratio of 0.11. Bio-Techne Co. has a 52 week low of $68.00 and a 52 week high of $113.81. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 45.51, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. The stock has a 50-day moving average price of $78.14 and a 200 day moving average price of $80.66.

Bio-Techne Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Monday, February 13th were issued a dividend of $0.08 per share. This is an increase from Bio-Techne’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Friday, February 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Bio-Techne’s payout ratio is 19.88%.

Wall Street Analyst Weigh In

TECH has been the subject of several recent analyst reports. Robert W. Baird lowered their price target on Bio-Techne from $111.50 to $99.00 in a report on Friday, February 3rd. Wells Fargo & Company raised Bio-Techne from an “underweight” rating to an “equal weight” rating and set a $90.00 price target for the company in a report on Tuesday, January 10th. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a report on Thursday, March 2nd. Stephens lowered their price target on Bio-Techne to $105.00 and set an “overweight” rating for the company in a report on Monday, December 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Bio-Techne in a report on Tuesday, December 13th. They issued a “buy” rating and a $100.00 price target for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.36.

Bio-Techne Company Profile

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Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.