Blair William & Co. IL Acquires 51,223 Shares of Bio-Techne Corp $TECH

Blair William & Co. IL raised its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 51.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,089 shares of the biotechnology company’s stock after purchasing an additional 51,223 shares during the quarter. Blair William & Co. IL owned 0.10% of Bio-Techne worth $8,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Caprock Group LLC bought a new stake in Bio-Techne during the third quarter worth approximately $1,710,000. Fort Washington Investment Advisors Inc. OH increased its position in shares of Bio-Techne by 8.0% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock valued at $26,386,000 after purchasing an additional 35,165 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Bio-Techne by 9.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock valued at $29,100,000 after purchasing an additional 48,838 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bio-Techne by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock worth $79,873,000 after buying an additional 41,180 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Bio-Techne by 27.0% during the second quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock worth $11,529,000 after buying an additional 47,555 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Performance

Bio-Techne stock opened at $54.87 on Tuesday. The company has a 50 day moving average price of $62.79 and a 200-day moving average price of $60.07. 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 fifty-two week low of $46.01 and a fifty-two week high of $72.16. The company has a market capitalization of $8.58 billion, a PE ratio of 107.59, a P/E/G ratio of 3.58 and a beta of 1.48.

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

Bio-Techne Dividend Announcement

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 $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne’s payout ratio is presently 62.75%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup reiterated a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a research report on Wednesday, February 4th. Benchmark reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, February 3rd. Evercore increased their price objective on shares of Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Wells Fargo & Company raised their price objective on shares of Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Argus upped their target price on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.