Fideuram Asset Management Ireland dac Takes Position in Bio-Techne Corp $TECH

Fideuram Asset Management Ireland dac purchased a new stake in Bio-Techne Corp (NASDAQ:TECH) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 116,075 shares of the biotechnology company’s stock, valued at approximately $7,168,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bio-Techne by 26.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,991 shares of the biotechnology company’s stock valued at $117,000 after buying an additional 416 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new position in Bio-Techne during the 4th quarter valued at about $889,000. Malaga Cove Capital LLC acquired a new position in Bio-Techne during the 4th quarter valued at about $336,000. Royce & Associates LP boosted its stake in Bio-Techne by 2.8% during the 4th quarter. Royce & Associates LP now owns 678,502 shares of the biotechnology company’s stock valued at $39,903,000 after purchasing an additional 18,468 shares during the period. Finally, Summitry LLC boosted its stake in Bio-Techne by 19.3% during the 4th quarter. Summitry LLC now owns 5,134 shares of the biotechnology company’s stock valued at $302,000 after purchasing an additional 829 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

Shares of TECH opened at $50.84 on Friday. The company’s 50 day moving average price is $52.07 and its 200 day moving average price is $57.92. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.16. The company has a market capitalization of $7.96 billion, a PE ratio of 73.68, a PEG ratio of 3.74 and a beta of 1.41. 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 (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 EPS 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 company had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts expect that Bio-Techne Corp will post 1.69 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s payout ratio is currently 46.38%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TECH. Royal Bank Of Canada set a $62.00 target price on shares of Bio-Techne and gave the company an “outperform” rating in a research note on Thursday, May 14th. UBS Group reiterated a “buy” rating and issued a $79.00 target price (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Evercore set a $50.00 price target on shares of Bio-Techne in a report on Thursday, May 7th. Finally, Citigroup lowered their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus price target of $65.92.

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.