Pembroke Management LTD Purchases 37,189 Shares of Bio-Techne Corp $TECH

Pembroke Management LTD grew its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 376,977 shares of the biotechnology company’s stock after buying an additional 37,189 shares during the quarter. Bio-Techne accounts for 2.1% of Pembroke Management LTD’s portfolio, making the stock its 21st largest position. Pembroke Management LTD owned about 0.24% of Bio-Techne worth $20,971,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Bio-Techne by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after purchasing an additional 113,634 shares in the last quarter. Woodline Partners LP boosted its position in shares of Bio-Techne by 40.0% during the first quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after buying an additional 3,814 shares during the last quarter. Czech National Bank boosted its position in shares of Bio-Techne by 5.5% during the second quarter. Czech National Bank now owns 38,319 shares of the biotechnology company’s stock valued at $1,972,000 after buying an additional 2,009 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Bio-Techne by 3.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 20,672 shares of the biotechnology company’s stock worth $1,098,000 after buying an additional 709 shares in the last quarter. Finally, Diversified Trust Co raised its position in Bio-Techne by 12.2% in the 2nd quarter. Diversified Trust Co now owns 15,505 shares of the biotechnology company’s stock worth $798,000 after buying an additional 1,681 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TECH. TD Cowen lifted their price target on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Argus lifted their target price on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $72.00 target price on shares of Bio-Techne and gave the company a “buy” rating in a research note on Friday, December 12th. Evercore ISI set a $62.00 price target on Bio-Techne and gave the company an “in-line” rating in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus price target of $70.57.

Bio-Techne Trading Down 1.8%

Shares of TECH stock opened at $68.67 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.22 and a quick ratio of 2.81. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 140.15, a PEG ratio of 4.82 and a beta of 1.47. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $79.28. The firm has a fifty day moving average price of $61.46 and a 200-day moving average price of $57.84.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.The company had revenue of $286.56 million for the quarter, compared to the consensus estimate of $292.02 million. During the same period in the previous year, the business earned $0.42 earnings per share. Bio-Techne’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Bio-Techne’s payout ratio is 65.31%.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.