Dimensional Fund Advisors LP Boosts Holdings in Bio-Techne Corp $TECH

Dimensional Fund Advisors LP grew its position in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 10.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,973,136 shares of the biotechnology company's stock after purchasing an additional 178,843 shares during the quarter. Dimensional Fund Advisors LP owned about 1.26% of Bio-Techne worth $103,118,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TECH. Morgan Stanley boosted its position in shares of Bio-Techne by 15.3% in the 4th quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company's stock worth $490,794,000 after purchasing an additional 1,107,536 shares in the last quarter. State Street Corp boosted its holdings in Bio-Techne by 1.0% in the fourth quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company's stock worth $341,806,000 after acquiring an additional 58,639 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Bio-Techne by 12.1% in the fourth quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company's stock worth $337,219,000 after acquiring an additional 618,916 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Bio-Techne by 21.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,075,194 shares of the biotechnology company's stock worth $239,663,000 after acquiring an additional 725,050 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Bio-Techne by 164.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company's stock worth $235,994,000 after acquiring an additional 2,495,328 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TECH. Zacks Research lowered shares of Bio-Techne from a "hold" rating to a "strong sell" rating in a research report on Monday, June 8th. Weiss Ratings upgraded shares of Bio-Techne from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Wells Fargo & Company decreased their price target on shares of Bio-Techne from $76.00 to $62.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada downgraded shares of Bio-Techne from an "outperform" rating to a "sector perform" rating and lifted their price objective for the stock from $62.00 to $73.00 in a research note on Thursday, July 9th. Finally, Robert W. Baird boosted their price objective on shares of Bio-Techne from $49.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $68.08.

Bio-Techne Stock Performance

Shares of NASDAQ TECH opened at $72.07 on Wednesday. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16. The company has a 50 day simple moving average of $61.56 and a two-hundred day simple moving average of $58.89. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 104.45, a PEG ratio of 8.53 and a beta of 1.29.

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

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Bio-Techne's payout ratio is presently 46.38%.

Bio-Techne Company 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.

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