Midwest Financial Partners Investments Inc. Invests $2.35 Million in Bio-Techne Corp $TECH

Midwest Financial Partners Investments Inc. acquired a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 39,947 shares of the biotechnology company’s stock, valued at approximately $2,349,000. Bio-Techne comprises approximately 1.3% of Midwest Financial Partners Investments Inc.’s investment portfolio, making the stock its 17th largest position.

Other institutional investors have also modified their holdings of the company. Danske Bank A S purchased a new stake in shares of Bio-Techne during the 4th quarter worth $29,000. eCIO Inc. purchased a new stake in shares of Bio-Techne during the 4th quarter worth $30,000. Measured Wealth Private Client Group LLC acquired a new position in Bio-Techne in the third quarter valued at approximately $32,000. iSAM Funds UK Ltd acquired a new position in Bio-Techne in the third quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Up 1.4%

TECH stock opened at $47.37 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. Bio-Techne Corp has a one year low of $43.19 and a one year high of $72.16. The stock has a market capitalization of $7.42 billion, a PE ratio of 68.65, a price-to-earnings-growth ratio of 3.63 and a beta of 1.41. The company has a fifty day moving average of $52.32 and a 200-day moving average of $58.30.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business had revenue of $311.42 million during the quarter, compared to analysts’ expectations of $316.11 million. During the same quarter last year, the firm earned $0.56 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts expect that Bio-Techne Corp will post 1.69 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be paid a $0.08 dividend. The ex-dividend date is Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.7%. Bio-Techne’s payout ratio is 46.38%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TECH shares. UBS Group reaffirmed a “buy” rating and issued a $79.00 price target (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. TD Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a report on Thursday, May 7th. Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a report on Tuesday, February 3rd. Finally, Citigroup dropped their price objective on Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.92.

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.