Cramer Rosenthal Mcglynn LLC Boosts Stake in Bio-Techne Corp $TECH

Key Points

• Cramer Rosenthal Mcglynn LLC boosted its stake in Bio‑Techne by 7.1% to 559,189 shares (about 0.36% of the company) worth roughly $31.1 million, making TECH the firm's 13th-largest holding and ~1.9% of its portfolio.
• Q4 results beat expectations: Bio‑Techne reported $0.46 EPS vs. $0.43 expected and revenue of $295.9M vs. $290.2M, though revenue was down 0.4% year-over-year and net margin was 6.67%.
• Analysts hold a consensus "Moderate Buy" with an average price target of $72.77, and several firms (including UBS and Deutsche Bank) recently reiterated or raised buy ratings and price targets.

Cramer Rosenthal Mcglynn LLC boosted its holdings in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 559,189 shares of the biotechnology company's stock after acquiring an additional 37,200 shares during the quarter. Bio-Techne comprises approximately 1.9% of Cramer Rosenthal Mcglynn LLC's portfolio, making the stock its 13th biggest holding. Cramer Rosenthal Mcglynn LLC owned about 0.36% of Bio-Techne worth $31,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in shares of Bio-Techne by 109.7% during the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 237 shares during the period. Allworth Financial LP boosted its holdings in Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company's stock worth $31,000 after buying an additional 248 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company's stock worth $35,000 after buying an additional 562 shares during the period. Sound Income Strategies LLC acquired a new position in Bio-Techne during the third quarter worth about $37,000. Finally, Federated Hermes Inc. purchased a new position in Bio-Techne in the third quarter valued at about $37,000. Institutional investors and hedge funds own 98.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TECH shares. UBS Group reissued a "buy" rating and set a $79.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Zacks Research upgraded Bio-Techne from a "strong sell" rating to a "hold" rating in a research report on Monday, February 9th. Benchmark restated a "buy" rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. Stifel Nicolaus set a $65.00 price target on Bio-Techne and gave the stock a "hold" rating in a research note on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft set a $72.00 price objective on shares of Bio-Techne and gave the company a "buy" rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.77.

Bio-Techne Stock Down 3.4%

TECH opened at $55.89 on Friday. The firm has a market cap of $8.74 billion, a P/E ratio of 109.59, a PEG ratio of 3.84 and a beta of 1.48. The business's fifty day simple moving average is $62.98 and its 200 day simple moving average is $59.98. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $72.16. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The business had revenue of $295.88 million during the quarter, compared to the consensus estimate of $290.20 million. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, equities research analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 16th were issued a $0.08 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.32 annualized dividend and a yield of 0.6%. Bio-Techne's payout ratio is 62.75%.

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.

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