Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Mercer Global Advisors Inc. ADV

Posted by MarketBeat News on May 21st, 2023

Mercer Global Advisors Inc. ADV lifted its stake in shares of Bio-Techne Co. (NASDAQ:TECH – Get Rating) by 206.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,457 shares of the biotechnology company’s stock after purchasing an additional 5,025 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Bio-Techne were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TECH. Private Advisor Group LLC lifted its stake in shares of Bio-Techne by 31.2% during the first quarter. Private Advisor Group LLC now owns 1,571 shares of the biotechnology company’s stock worth $680,000 after buying an additional 374 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Bio-Techne by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,257 shares of the biotechnology company’s stock worth $2,276,000 after buying an additional 325 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Bio-Techne by 8.0% during the first quarter. Raymond James Trust N.A. now owns 1,466 shares of the biotechnology company’s stock worth $635,000 after buying an additional 108 shares during the period. Synovus Financial Corp lifted its stake in shares of Bio-Techne by 13.3% during the first quarter. Synovus Financial Corp now owns 1,964 shares of the biotechnology company’s stock worth $848,000 after buying an additional 230 shares during the period. Finally, Aviva PLC raised its holdings in shares of Bio-Techne by 9.9% during the first quarter. Aviva PLC now owns 17,298 shares of the biotechnology company’s stock worth $7,491,000 after purchasing an additional 1,552 shares during the last quarter. 23.92% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

TECH opened at $83.88 on Friday. The firm has a market capitalization of $13.21 billion, a PE ratio of 50.23, a PEG ratio of 3.72 and a beta of 1.26. Bio-Techne Co. has a twelve month low of $68.00 and a twelve month high of $99.33. The firm’s 50-day moving average price is $78.36 and its 200 day moving average price is $79.66. The company has a current ratio of 4.04, a quick ratio of 2.84 and a debt-to-equity ratio of 0.20.

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Bio-Techne (NASDAQ:TECH – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. The firm had revenue of $294.15 million for the quarter, compared to analyst estimates of $298.55 million. Bio-Techne had a net margin of 24.15% and a return on equity of 15.31%. Bio-Techne’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. As a group, sell-side analysts expect that Bio-Techne Co. will post 1.72 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Monday, May 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.38%. Bio-Techne’s payout ratio is presently 19.16%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TECH shares. StockNews.com started coverage on shares of Bio-Techne in a report on Thursday. They set a “hold” rating for the company. Benchmark reissued a “buy” rating and set a $120.00 target price on shares of Bio-Techne in a report on Friday, February 3rd. Royal Bank of Canada reduced their target price on shares of Bio-Techne from $89.00 to $88.00 and set a “sector perform” rating for the company in a report on Monday, February 6th. Robert W. Baird raised their target price on shares of Bio-Techne from $99.00 to $100.00 in a report on Thursday, May 4th. Finally, SVB Leerink cut their price objective on shares of Bio-Techne from $125.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $104.45.

Bio-Techne 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.