Massachusetts Financial Services Co. MA Has $235.99 Million Stock Holdings in Bio-Techne Corp $TECH

Massachusetts Financial Services Co. MA boosted its position in Bio-Techne Corp (NASDAQ:TECH) by 164.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,012,818 shares of the biotechnology company’s stock after acquiring an additional 2,495,328 shares during the period. Massachusetts Financial Services Co. MA owned 2.58% of Bio-Techne worth $235,994,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Oak Thistle LLC boosted its holdings in Bio-Techne by 1.9% in the third quarter. Oak Thistle LLC now owns 9,314 shares of the biotechnology company’s stock valued at $518,000 after acquiring an additional 173 shares during the last quarter. Allworth Financial LP raised its stake in shares of Bio-Techne by 28.4% during the third quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock worth $44,000 after buying an additional 174 shares during the last quarter. Angeles Wealth Management LLC raised its stake in shares of Bio-Techne by 3.4% during the third quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company’s stock worth $317,000 after buying an additional 189 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Bio-Techne by 5.6% during the third quarter. Exchange Traded Concepts LLC now owns 3,630 shares of the biotechnology company’s stock worth $202,000 after buying an additional 192 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Bio-Techne by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,883 shares of the biotechnology company’s stock worth $105,000 after buying an additional 198 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TECH shares. Citigroup reissued a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Wednesday, February 4th. Robert W. Baird set a $70.00 price target on shares of Bio-Techne in a research note on Thursday, February 5th. Benchmark reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. Evercore boosted their price target on shares of Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings downgraded shares of Bio-Techne from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.77.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $55.54 on Monday. The stock has a market cap of $8.69 billion, a P/E ratio of 108.90, a P/E/G ratio of 3.65 and a beta of 1.49. The firm has a 50 day moving average price of $56.47 and a 200 day moving average price of $59.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $72.16.

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

Bio-Techne Announces Dividend

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

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.