Cresset Asset Management LLC Purchases 28,344 Shares of Bio-Techne Corp $TECH

Cresset Asset Management LLC increased its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668,117 shares of the biotechnology company’s stock after purchasing an additional 28,344 shares during the period. Cresset Asset Management LLC’s holdings in Bio-Techne were worth $37,167,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Caprock Group LLC purchased a new stake in Bio-Techne in the 3rd quarter worth $1,710,000. Segall Bryant & Hamill LLC boosted its stake in shares of Bio-Techne by 9.5% in the second quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock worth $29,100,000 after acquiring an additional 48,838 shares during the period. Fort Washington Investment Advisors Inc. OH grew its position in shares of Bio-Techne by 8.0% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock worth $26,386,000 after purchasing an additional 35,165 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Bio-Techne by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after purchasing an additional 41,180 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Bio-Techne by 27.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock worth $11,529,000 after purchasing an additional 47,555 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TECH shares. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Evercore upped their target price on shares of Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. TD Cowen reiterated a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Citigroup reissued a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. Finally, UBS Group restated a “buy” rating and set a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne Stock Down 1.4%

Shares of NASDAQ TECH opened at $56.99 on Wednesday. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. Bio-Techne Corp has a 12-month low of $46.01 and a 12-month high of $72.16. The firm’s 50-day moving average price is $63.05 and its 200-day moving average price is $60.02. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 111.75, a P/E/G ratio of 3.84 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The company had revenue of $295.88 million for the quarter, compared to analysts’ expectations of $290.20 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were given a $0.08 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. Bio-Techne’s dividend payout ratio (DPR) is currently 62.75%.

About Bio-Techne

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.