Aberdeen Group plc Has $499,000 Holdings in Bio-Techne Corp $TECH

Aberdeen Group plc lowered its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 90.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,976 shares of the biotechnology company’s stock after selling 88,152 shares during the period. Aberdeen Group plc’s holdings in Bio-Techne were worth $499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TECH. Norges Bank purchased a new position in shares of Bio-Techne in the 2nd quarter worth approximately $98,238,000. Madison Asset Management LLC bought a new stake in Bio-Techne during the third quarter valued at approximately $41,425,000. Worldquant Millennium Advisors LLC bought a new stake in Bio-Techne during the second quarter worth about $31,421,000. Quantinno Capital Management LP raised its stake in shares of Bio-Techne by 548.6% during the second quarter. Quantinno Capital Management LP now owns 653,411 shares of the biotechnology company’s stock worth $33,618,000 after acquiring an additional 552,673 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Bio-Techne during the second quarter valued at about $26,659,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Down 1.3%

TECH stock opened at $57.52 on Monday. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $72.16. The firm’s fifty day simple moving average is $63.15 and its two-hundred day simple moving average is $59.77. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 112.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.48. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The firm had revenue of $295.88 million for the quarter, compared to analysts’ expectations of $290.20 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 16th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, February 13th. Bio-Techne’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analysts Forecast Growth

TECH has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on shares of Bio-Techne and gave the company a “buy” rating in a research note on Friday, December 12th. Evercore lifted their price target on Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Robert W. Baird set a $70.00 price objective on Bio-Techne in a report on Thursday, February 5th. Finally, Stifel Nicolaus set a $65.00 price objective on Bio-Techne and gave the stock a “hold” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus price target of $72.77.

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.