Parallel Advisors LLC Has $166,000 Stake in Bio-Techne Co. (NASDAQ:TECH)

Parallel Advisors LLC lifted its stake in Bio-Techne Co. (NASDAQ:TECHFree Report) by 16.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,147 shares of the biotechnology company’s stock after buying an additional 304 shares during the period. Parallel Advisors LLC’s holdings in Bio-Techne were worth $166,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of Bio-Techne by 4.5% during the 3rd quarter. Morgan Stanley now owns 3,305,826 shares of the biotechnology company’s stock worth $225,028,000 after purchasing an additional 143,716 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Bio-Techne by 3.0% in the 4th quarter. Mackenzie Financial Corp now owns 2,399,327 shares of the biotechnology company’s stock valued at $185,132,000 after buying an additional 70,294 shares during the period. Invesco Ltd. increased its holdings in Bio-Techne by 14.8% in the 3rd quarter. Invesco Ltd. now owns 1,880,812 shares of the biotechnology company’s stock valued at $128,027,000 after buying an additional 241,771 shares during the period. Northern Trust Corp raised its position in shares of Bio-Techne by 2.4% in the 3rd quarter. Northern Trust Corp now owns 1,627,073 shares of the biotechnology company’s stock valued at $110,755,000 after buying an additional 38,223 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Bio-Techne during the 4th quarter worth approximately $119,771,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TECH has been the subject of several research analyst reports. Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Scotiabank began coverage on shares of Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price for the company. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Thursday, May 2nd. Finally, Robert W. Baird upped their price objective on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Read Our Latest Report on Bio-Techne

Insider Transactions at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total transaction of $800,592.00. Following the sale, the director now owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Bio-Techne Stock Performance

NASDAQ TECH opened at $77.90 on Tuesday. The company has a market capitalization of $12.28 billion, a price-to-earnings ratio of 61.83, a PEG ratio of 9.27 and a beta of 1.29. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $89.91. The stock has a fifty day simple moving average of $72.59 and a 200 day simple moving average of $71.56.

Bio-Techne (NASDAQ:TECHGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The company had revenue of $303.43 million during the quarter, compared to analysts’ expectations of $292.36 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts expect that Bio-Techne Co. will post 1.56 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, May 10th. Bio-Techne’s dividend payout ratio is currently 25.40%.

Bio-Techne Company Profile

(Free Report)

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.

See Also

Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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