Parkside Financial Bank & Trust Has $252,000 Stake in Bio-Techne Co. (NASDAQ:TECH)

Parkside Financial Bank & Trust raised its stake in Bio-Techne Co. (NASDAQ:TECH) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,265 shares of the biotechnology company’s stock after buying an additional 323 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Bio-Techne were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TECH. Legal Advantage Investments Inc. raised its position in shares of Bio-Techne by 1.6% during the third quarter. Legal Advantage Investments Inc. now owns 11,135 shares of the biotechnology company’s stock worth $758,000 after purchasing an additional 175 shares during the period. Lindbrook Capital LLC raised its position in shares of Bio-Techne by 23.8% during the fourth quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 177 shares during the period. Czech National Bank raised its position in shares of Bio-Techne by 0.7% during the fourth quarter. Czech National Bank now owns 27,698 shares of the biotechnology company’s stock worth $2,137,000 after purchasing an additional 181 shares during the period. State of Michigan Retirement System raised its position in shares of Bio-Techne by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 43,344 shares of the biotechnology company’s stock worth $3,344,000 after purchasing an additional 200 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Bio-Techne by 17.3% during the third quarter. Global Retirement Partners LLC now owns 1,514 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of NASDAQ TECH traded down $0.73 during midday trading on Wednesday, hitting $62.96. 304,691 shares of the company’s stock were exchanged, compared to its average volume of 1,058,317. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $89.91. The company’s 50 day moving average price is $70.35 and its 200 day moving average price is $68.61. The firm has a market capitalization of $9.90 billion, a PE ratio of 45.71, a price-to-earnings-growth ratio of 7.81 and a beta of 1.22.

Bio-Techne (NASDAQ:TECH) last issued its 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). Bio-Techne had a return on equity of 14.21% and a net margin of 19.58%. The business had revenue of $272.60 million for the quarter, compared to the consensus estimate of $277.48 million. As a group, analysts predict that Bio-Techne Co. will post 1.52 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.51%. Bio-Techne’s payout ratio is 23.19%.

Insider Activity

In other news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the sale, the director now directly owns 43,097 shares in the company, valued at approximately $3,317,607.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.