Berry Wealth Group LP Increases Holdings in Bio-Techne Corp $TECH

Berry Wealth Group LP increased its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 43.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,392 shares of the biotechnology company’s stock after acquiring an additional 1,623 shares during the period. Berry Wealth Group LP’s holdings in Bio-Techne were worth $277,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TECH. Allworth Financial LP increased its stake in shares of Bio-Techne by 68.1% in the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after buying an additional 248 shares during the last quarter. AlphaQuest LLC acquired a new position in Bio-Techne during the 1st quarter worth $34,000. Federated Hermes Inc. bought a new stake in shares of Bio-Techne in the 1st quarter worth about $41,000. First Horizon Advisors Inc. raised its stake in shares of Bio-Techne by 134.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 868 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 498 shares in the last quarter. Finally, Hoese & Co LLP bought a new position in shares of Bio-Techne during the second quarter worth about $51,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analysts Set New Price Targets

TECH has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. Royal Bank Of Canada raised shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 3rd. Argus increased their target price 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. Finally, TD Cowen raised their price target on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.92.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $64.35 on Friday. The company has a 50-day moving average of $60.08 and a 200-day moving average of $54.91. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 139.88, a price-to-earnings-growth ratio of 3.63 and a beta of 1.51. The company has a current ratio of 3.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $79.28.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The firm had revenue of $286.56 million for the quarter, compared to the consensus estimate of $292.02 million. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were issued a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Bio-Techne’s dividend payout ratio is currently 65.31%.

Bio-Techne Profile

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.