Arrowstreet Capital Limited Partnership Purchases New Shares in Bio-Techne Corp $TECH

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 366,872 shares of the biotechnology company's stock, valued at approximately $19,173,000. Arrowstreet Capital Limited Partnership owned 0.23% of Bio-Techne at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TECH. Asset Management One Co. Ltd. raised its stake in Bio-Techne by 2.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company's stock worth $341,000 after buying an additional 153 shares in the last quarter. Accredited Investors Inc. lifted its holdings in Bio-Techne by 2.7% in the fourth quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company's stock worth $356,000 after buying an additional 161 shares during the period. Oppenheimer & Co. Inc. boosted its position in Bio-Techne by 3.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company's stock valued at $315,000 after acquiring an additional 181 shares in the last quarter. Bryn Mawr Trust Advisors LLC boosted its position in Bio-Techne by 5.1% during the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company's stock valued at $208,000 after acquiring an additional 194 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in shares of Bio-Techne by 2.8% during the 4th quarter. New Mexico Educational Retirement Board now owns 7,300 shares of the biotechnology company's stock worth $429,000 after acquiring an additional 200 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TECH shares. TD Cowen lowered Bio-Techne from a "buy" rating to a "hold" rating and lifted their price target for the company from $65.00 to $73.00 in a research report on Monday, June 29th. Stifel Nicolaus set a $50.00 price objective on Bio-Techne in a report on Thursday, May 7th. Weiss Ratings raised Bio-Techne from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. Royal Bank Of Canada cut shares of Bio-Techne from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $62.00 to $73.00 in a report on Thursday, July 9th. Finally, Leerink Partners set a $73.00 price target on shares of Bio-Techne in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $68.08.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $72.03 on Friday. Bio-Techne Corp has a 1-year low of $43.19 and a 1-year high of $72.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The business has a fifty day moving average price of $62.56 and a 200-day moving average price of $58.98. The company has a market capitalization of $11.28 billion, a PE ratio of 104.39, a PEG ratio of 8.58 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The firm had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. During the same quarter in the previous year, the firm earned $0.56 EPS. The business's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts expect that Bio-Techne Corp will post 1.65 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, May 18th. Bio-Techne's dividend payout ratio is currently 46.38%.

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.

Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Techne Corp (NASDAQ:TECH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.