OneDigital Investment Advisors LLC Takes Position in Bio-Techne Corp $TECH

OneDigital Investment Advisors LLC bought a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 103,393 shares of the biotechnology company’s stock, valued at approximately $5,752,000. OneDigital Investment Advisors LLC owned approximately 0.07% of Bio-Techne as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in 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 increased 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 period. Stephens Inc. AR raised its stake in Bio-Techne by 4.7% in the second quarter. Stephens Inc. AR now owns 8,149 shares of the biotechnology company’s stock worth $419,000 after buying an additional 367 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Bio-Techne by 1.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 18,187 shares of the biotechnology company’s stock worth $935,000 after buying an additional 261 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Bio-Techne by 15.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,349,712 shares of the biotechnology company’s stock valued at $120,893,000 after acquiring an additional 319,177 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of TECH stock opened at $57.52 on Monday. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of 112.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.48. 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 Corp has a one year low of $46.01 and a one year high of $72.16. The company’s 50-day moving average is $63.15 and its 200 day moving average is $59.77.

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

Bio-Techne Announces Dividend

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

Analyst Ratings Changes

TECH has been the subject of a number of research analyst reports. TD Cowen restated a “buy” rating and issued a $80.00 target price (up previously from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Wells Fargo & Company upped their target price on shares of Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Citigroup reissued a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Bio-Techne in a research report on Wednesday, February 4th. Finally, Argus upped their price objective on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne 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.