Mairs & Power Inc. Purchases 91,031 Shares of Bio-Techne Corp $TECH

Mairs & Power Inc. boosted its position in Bio-Techne Corp (NASDAQ:TECH) by 3.4% during the third quarter, Holdings Channel reports. The institutional investor owned 2,807,409 shares of the biotechnology company’s stock after purchasing an additional 91,031 shares during the quarter. Bio-Techne comprises approximately 1.5% of Mairs & Power Inc.’s portfolio, making the stock its 24th largest holding. Mairs & Power Inc.’s holdings in Bio-Techne were worth $156,176,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TECH. Goldman Sachs Group Inc. grew its stake in shares of 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 worth $62,379,000 after acquiring an additional 113,634 shares in the last quarter. Woodline Partners LP raised its holdings in shares of 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 purchasing an additional 3,814 shares during the last quarter. Allworth Financial LP lifted its position in shares of Bio-Techne by 68.1% in the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 248 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in Bio-Techne by 5.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 59,808 shares of the biotechnology company’s stock worth $3,077,000 after purchasing an additional 3,123 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Bio-Techne by 6.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,448 shares of the biotechnology company’s stock worth $1,978,000 after purchasing an additional 2,295 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Trading Down 4.0%

Shares of NASDAQ:TECH opened at $48.81 on Tuesday. 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 $7.64 billion, a P/E ratio of 95.71, a price-to-earnings-growth ratio of 3.38 and a beta of 1.48. The company has a 50-day simple moving average of $61.95 and a 200 day simple moving average of $59.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54.

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

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, February 13th. Bio-Techne’s dividend payout ratio is 62.75%.

Analysts Set New Price Targets

Several brokerages have issued reports on TECH. Wells Fargo & Company lifted their price target on shares of Bio-Techne from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Robert W. Baird set a $70.00 price objective on shares of Bio-Techne in a research note on Thursday, February 5th. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft set a $72.00 target price on Bio-Techne and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Stifel Nicolaus set a $65.00 price target on Bio-Techne and gave the company a “hold” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.77.

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.