First Trust Advisors LP Boosts Position in Bio-Techne Co. (NASDAQ:TECH)

First Trust Advisors LP raised its stake in shares of Bio-Techne Co. (NASDAQ:TECHFree Report) by 27.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 739,694 shares of the biotechnology company’s stock after buying an additional 158,955 shares during the quarter. First Trust Advisors LP owned about 0.47% of Bio-Techne worth $57,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TECH. CVA Family Office LLC purchased a new stake in Bio-Techne in the fourth quarter worth approximately $31,000. First Horizon Advisors Inc. raised its holdings in Bio-Techne by 57.9% in the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 191 shares in the last quarter. GAMMA Investing LLC bought a new position in Bio-Techne in the fourth quarter worth $44,000. Federated Hermes Inc. bought a new position in Bio-Techne in the third quarter worth $47,000. Finally, Clear Street Markets LLC raised its holdings in Bio-Techne by 255.8% in the third quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 527 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 1.5 %

NASDAQ TECH opened at $77.63 on Friday. The stock’s 50-day moving average price is $73.45 and its 200-day moving average price is $71.99. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. 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 $12.23 billion, a P/E ratio of 61.61, a price-to-earnings-growth ratio of 9.47 and a beta of 1.29.

Bio-Techne (NASDAQ:TECHGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 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 company had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $292.36 million. During the same period in the previous year, the firm earned $0.47 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that Bio-Techne Co. will post 1.56 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Bio-Techne’s dividend payout ratio is presently 25.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Thursday, May 2nd. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a research note on Wednesday, May 22nd. Robert W. Baird increased their target price on Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Get Our Latest Stock Report on TECH

Bio-Techne 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.

See Also

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

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