Lindbrook Capital LLC Grows Stake in Bio-Techne Co. (NASDAQ:TECH)

Lindbrook Capital LLC grew its holdings in Bio-Techne Co. (NASDAQ:TECH) by 23.8% during the fourth quarter, HoldingsChannel reports. The fund owned 921 shares of the biotechnology company’s stock after purchasing an additional 177 shares during the period. Lindbrook Capital LLC’s holdings in Bio-Techne were worth $71,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bio-Techne in the 3rd quarter valued at about $27,000. CVA Family Office LLC purchased a new position in Bio-Techne during the 4th quarter worth approximately $31,000. Federated Hermes Inc. purchased a new position in Bio-Techne during the 3rd quarter worth approximately $47,000. Clear Street Markets LLC grew its stake in Bio-Techne by 255.8% during the 3rd quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after buying an additional 527 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in Bio-Techne by 17.3% during the 3rd quarter. Global Retirement Partners LLC now owns 1,514 shares of the biotechnology company’s stock worth $101,000 after buying an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TECH. Deutsche Bank Aktiengesellschaft dropped their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Royal Bank of Canada dropped their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Scotiabank began coverage on Bio-Techne in a research note on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price target on the stock. Stephens dropped their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Finally, Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.90.

Insider Activity

In other news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.45% of the company’s stock.

Bio-Techne Stock Down 0.3 %

Bio-Techne stock opened at $63.52 on Thursday. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $89.91. The stock has a 50 day moving average of $70.28 and a two-hundred day moving average of $68.58. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 7.93 and a beta of 1.22.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $272.60 million during the quarter, compared to analyst estimates of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. As a group, research analysts expect that Bio-Techne Co. will post 1.52 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were issued a $0.08 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. Bio-Techne’s dividend payout ratio is currently 23.19%.

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.