Bio-Techne Corp $TECH Shares Acquired by Hollow Brook Wealth Management LLC

Hollow Brook Wealth Management LLC increased its holdings in Bio-Techne Corp (NASDAQ:TECH) by 69.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,677 shares of the biotechnology company’s stock after buying an additional 71,739 shares during the quarter. Bio-Techne comprises 2.3% of Hollow Brook Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Hollow Brook Wealth Management LLC owned about 0.11% of Bio-Techne worth $9,717,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TECH. Wellington Management Group LLP boosted its position in Bio-Techne by 349.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock worth $284,555,000 after acquiring an additional 3,978,026 shares during the period. Norges Bank acquired a new position in shares of Bio-Techne during the second quarter valued at $98,238,000. Durable Capital Partners LP acquired a new position in shares of Bio-Techne during the third quarter valued at $77,658,000. American Century Companies Inc. raised its stake in shares of Bio-Techne by 78.3% during the third quarter. American Century Companies Inc. now owns 2,037,806 shares of the biotechnology company’s stock valued at $113,363,000 after purchasing an additional 894,987 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in Bio-Techne by 32.3% in the third quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock worth $183,975,000 after purchasing an additional 807,147 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TECH shares. Citigroup reiterated a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Bio-Techne in a research report on Wednesday, February 4th. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Robert W. Baird set a $70.00 price objective on shares of Bio-Techne in a report on Thursday, February 5th. Argus raised their price objective on shares of Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Finally, TD Cowen reissued a “buy” rating and set a $80.00 target price (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.77.

Bio-Techne Trading Down 1.2%

Shares of NASDAQ:TECH opened at $50.85 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 99.71, a PEG ratio of 3.38 and a beta of 1.48. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $72.16. The company has a 50 day moving average price of $62.23 and a 200 day moving average price of $59.94.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $295.88 million for the quarter, compared to analysts’ expectations of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, 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 announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. Bio-Techne’s payout ratio is 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.