Atria Wealth Solutions Inc. Invests $250,000 in Bio-Techne Co. (NASDAQ:TECH)

Atria Wealth Solutions Inc. acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECH) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,236 shares of the biotechnology company’s stock, valued at approximately $250,000.

Several other hedge funds have also modified their holdings of TECH. Handelsbanken Fonder AB raised its holdings in shares of Bio-Techne by 1,116.2% during the 4th quarter. Handelsbanken Fonder AB now owns 403,148 shares of the biotechnology company’s stock worth $31,107,000 after acquiring an additional 370,000 shares in the last quarter. Invesco Ltd. raised its holdings in Bio-Techne by 14.8% during the 3rd quarter. Invesco Ltd. now owns 1,880,812 shares of the biotechnology company’s stock valued at $128,027,000 after buying an additional 241,771 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Bio-Techne during the 3rd quarter valued at $15,499,000. Allspring Global Investments Holdings LLC raised its holdings in Bio-Techne by 14.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,309,295 shares of the biotechnology company’s stock valued at $101,025,000 after buying an additional 170,100 shares during the period. Finally, Morgan Stanley raised its holdings in Bio-Techne by 4.5% during the 3rd quarter. Morgan Stanley now owns 3,305,826 shares of the biotechnology company’s stock valued at $225,028,000 after buying an additional 143,716 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bio-Techne

In related news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the sale, the director now owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TECH has been the topic of several recent research reports. Stephens decreased their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Scotiabank initiated coverage on Bio-Techne in a report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price target on the stock. Benchmark restated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Robert W. Baird upped their price objective on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.50.

Bio-Techne Price Performance

TECH opened at $79.63 on Friday. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. The business’s fifty day simple moving average is $70.10 and its 200-day simple moving average is $68.88. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 63.20, a PEG ratio of 9.08 and a beta of 1.23.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The business had revenue of $303.43 million for the quarter, compared to the consensus estimate of $292.36 million. During the same quarter in the prior year, the company earned $0.47 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Bio-Techne Co. will post 1.52 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, May 10th. Bio-Techne’s payout ratio is 25.40%.

Bio-Techne Company 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.