ArrowMark Colorado Holdings LLC Has $18.69 Million Stock Position in Bio-Techne Corp $TECH

ArrowMark Colorado Holdings LLC lessened its stake in Bio-Techne Corp (NASDAQ:TECH) by 49.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,014 shares of the biotechnology company’s stock after selling 330,591 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.22% of Bio-Techne worth $18,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TECH. Wellington Management Group LLP grew its stake in shares of Bio-Techne by 349.8% during the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after purchasing an additional 3,978,026 shares during the last quarter. Invesco Ltd. raised its position in Bio-Techne by 7.7% in the 3rd quarter. Invesco Ltd. now owns 3,946,028 shares of the biotechnology company’s stock worth $219,518,000 after purchasing an additional 283,303 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Bio-Techne by 32.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock worth $183,975,000 after buying an additional 807,147 shares in the last quarter. DF Dent & Co. Inc. lifted its holdings in Bio-Techne by 2.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 2,780,961 shares of the biotechnology company’s stock worth $154,705,000 after buying an additional 56,219 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in Bio-Techne by 8.9% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,665,684 shares of the biotechnology company’s stock valued at $137,149,000 after buying an additional 217,362 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $50.85 on Friday. The company has a fifty day moving average price of $62.23 and a 200 day moving average price of $59.91. The firm has a market cap of $7.96 billion, a PE ratio of 99.71, a PEG ratio of 3.38 and a beta of 1.48. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $72.16.

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

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TECH shares. Evercore lifted their target price on Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. TD Cowen reaffirmed a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Benchmark reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. Argus lifted their price objective on Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Finally, Stifel Nicolaus set a $65.00 price objective on Bio-Techne and gave the stock a “hold” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne 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.