Montanaro Asset Management Ltd Raises Holdings in Bio-Techne Corp $TECH

Montanaro Asset Management Ltd grew its position in Bio-Techne Corp (NASDAQ:TECH) by 14.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 294,950 shares of the biotechnology company’s stock after purchasing an additional 38,350 shares during the period. Bio-Techne makes up approximately 3.9% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 7th largest holding. Montanaro Asset Management Ltd owned 0.19% of Bio-Techne worth $15,175,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bio-Techne by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,375,279 shares of the biotechnology company’s stock valued at $666,933,000 after purchasing an additional 721,012 shares in the last quarter. Select Equity Group L.P. lifted its holdings in shares of Bio-Techne by 129.8% in the first quarter. Select Equity Group L.P. now owns 5,366,003 shares of the biotechnology company’s stock valued at $314,609,000 after purchasing an additional 3,030,644 shares in the last quarter. Invesco Ltd. raised its holdings in Bio-Techne by 9.7% during the first quarter. Invesco Ltd. now owns 4,190,115 shares of the biotechnology company’s stock worth $245,666,000 after acquiring an additional 369,651 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Bio-Techne by 18.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,025,409 shares of the biotechnology company’s stock worth $177,380,000 after acquiring an additional 472,847 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in Bio-Techne by 1.2% during the first quarter. Champlain Investment Partners LLC now owns 2,448,322 shares of the biotechnology company’s stock worth $143,545,000 after acquiring an additional 28,668 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $62.57 on Monday. The business’s 50 day moving average price is $57.24 and its two-hundred day moving average price is $53.44. The company has a market cap of $9.74 billion, a PE ratio of 136.02, a price-to-earnings-growth ratio of 3.63 and a beta of 1.48. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $80.80.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The company had revenue of $316.96 million for the quarter, compared to the consensus estimate of $315.14 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio is presently 69.57%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TECH. Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Scotiabank dropped their target price on Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating on the stock in a report on Friday, July 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, October 8th. Stephens upgraded Bio-Techne to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Tuesday, July 22nd. Finally, Evercore ISI upped their target price on Bio-Techne from $60.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and an average price target of $70.58.

About Bio-Techne

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.