Bio-Techne Corp (NASDAQ:TECH) Stock Position Lifted by Ownership Capital B.V.

Ownership Capital B.V. boosted its stake in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 951,008 shares of the biotechnology company's stock after buying an additional 44,195 shares during the quarter. Bio-Techne makes up about 2.6% of Ownership Capital B.V.'s holdings, making the stock its 17th biggest position. Ownership Capital B.V. owned approximately 0.60% of Bio-Techne worth $55,758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Jones Financial Companies Lllp grew its position in Bio-Techne by 59.4% in the fourth quarter. Jones Financial Companies Lllp now owns 2,096 shares of the biotechnology company's stock worth $151,000 after acquiring an additional 781 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Bio-Techne by 14.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,137 shares of the biotechnology company's stock worth $154,000 after purchasing an additional 268 shares in the last quarter. Proficio Capital Partners LLC increased its position in Bio-Techne by 13.6% during the fourth quarter. Proficio Capital Partners LLC now owns 3,367 shares of the biotechnology company's stock worth $243,000 after buying an additional 402 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Bio-Techne by 2.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 92,910 shares of the biotechnology company's stock valued at $6,692,000 after buying an additional 2,568 shares in the last quarter. Finally, Amundi lifted its position in shares of Bio-Techne by 72.0% in the fourth quarter. Amundi now owns 277,925 shares of the biotechnology company's stock worth $20,897,000 after buying an additional 116,331 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company's stock.

Bio-Techne Stock Up 3.5%

TECH stock opened at $54.41 on Friday. The business's 50-day simple moving average is $50.15 and its 200 day simple moving average is $59.16. The company has a quick ratio of 2.58, a current ratio of 3.71 and a debt-to-equity ratio of 0.16. The company has a market cap of $8.53 billion, a PE ratio of 66.35, a price-to-earnings-growth ratio of 2.50 and a beta of 1.39. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $83.62.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The company had revenue of $316.18 million for the quarter, compared to analyst estimates of $317.92 million. Bio-Techne had a return on equity of 13.17% and a net margin of 10.89%. Bio-Techne's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 EPS. On average, research analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne announced that its board has authorized a share buyback plan on Wednesday, May 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, May 19th. Bio-Techne's dividend payout ratio is 39.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TECH. Stifel Nicolaus lowered their price objective on Bio-Techne from $75.00 to $60.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Wall Street Zen lowered shares of Bio-Techne from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Royal Bank Of Canada reduced their price objective on shares of Bio-Techne from $72.00 to $63.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. KeyCorp reaffirmed a "sector weight" rating on shares of Bio-Techne in a report on Wednesday, April 9th. Finally, Evercore ISI initiated coverage on shares of Bio-Techne in a report on Tuesday, March 18th. They issued an "outperform" rating and a $75.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Bio-Techne currently has an average rating of "Hold" and an average target price of $71.36.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.

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