Capital Research Global Investors Purchases 619,552 Shares of Bio-Techne Corp $TECH

Capital Research Global Investors boosted its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 61.6% in the third quarter, HoldingsChannel reports. The fund owned 1,625,502 shares of the biotechnology company’s stock after purchasing an additional 619,552 shares during the quarter. Capital Research Global Investors’ holdings in Bio-Techne were worth $90,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Bio-Techne by 12.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock valued at $62,379,000 after buying an additional 113,634 shares in the last quarter. Woodline Partners LP raised its stake in Bio-Techne by 40.0% in 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. Atria Investments Inc boosted its holdings in Bio-Techne by 31.1% in the second quarter. Atria Investments Inc now owns 7,484 shares of the biotechnology company’s stock worth $385,000 after acquiring an additional 1,774 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Bio-Techne by 11.4% in the second quarter. ProShare Advisors LLC now owns 27,931 shares of the biotechnology company’s stock worth $1,437,000 after acquiring an additional 2,866 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 248 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TECH has been the subject of several research analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. Stifel Nicolaus set a $65.00 target price on shares of Bio-Techne and gave the stock a “hold” rating in a research report on Thursday, February 5th. Robert W. Baird set a $70.00 price target on shares of Bio-Techne in a research note on Thursday, February 5th. Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a report on Tuesday, February 3rd. Finally, Citigroup reiterated a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne Trading Up 1.5%

Bio-Techne stock opened at $53.62 on Thursday. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $72.16. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 105.14, a price-to-earnings-growth ratio of 3.51 and a beta of 1.48. The stock has a 50-day moving average price of $62.56 and a 200 day moving average price of $59.99.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The firm had revenue of $295.88 million for the quarter, compared to analyst estimates of $290.20 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Bio-Techne’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s dividend payout ratio is 62.75%.

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.