M&T Bank Corp Buys 70,496 Shares of Bio-Techne Corp $TECH

M&T Bank Corp increased its stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 619.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,874 shares of the biotechnology company's stock after purchasing an additional 70,496 shares during the period. M&T Bank Corp owned approximately 0.05% of Bio-Techne worth $4,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caprock Group LLC bought a new stake in shares of Bio-Techne during the 3rd quarter valued at about $1,710,000. Madison Asset Management LLC bought a new position in shares of Bio-Techne in the 3rd quarter worth approximately $41,425,000. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Bio-Techne by 8.0% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company's stock worth $26,386,000 after purchasing an additional 35,165 shares during the period. Hollow Brook Wealth Management LLC boosted its holdings in shares of Bio-Techne by 69.7% in the third quarter. Hollow Brook Wealth Management LLC now owns 174,677 shares of the biotechnology company's stock worth $9,717,000 after buying an additional 71,739 shares during the last quarter. Finally, Pembroke Management LTD grew its position in Bio-Techne by 10.9% during the third quarter. Pembroke Management LTD now owns 376,977 shares of the biotechnology company's stock valued at $20,971,000 after buying an additional 37,189 shares during the period. Institutional investors own 98.95% of the company's stock.

Bio-Techne Stock Down 0.0%

Shares of TECH stock opened at $54.17 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 3.08. Bio-Techne Corp has a one year low of $46.05 and a one year high of $72.16. The company's fifty day moving average price is $55.11 and its 200-day moving average price is $59.89. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 106.23, a PEG ratio of 3.56 and a beta of 1.49.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The company had revenue of $295.88 million during the quarter, compared to the consensus estimate of $290.20 million. During the same quarter in the prior year, the firm posted $0.42 EPS. Bio-Techne's quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts expect that Bio-Techne Corp will post 1.73 EPS for the current fiscal year.

Bio-Techne Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on TECH shares. Robert W. Baird set a $70.00 target price on shares of Bio-Techne in a report on Thursday, February 5th. Citigroup reissued 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. Wells Fargo & Company upped their price objective on Bio-Techne from $70.00 to $76.00 and gave the stock an "overweight" rating in a research note on Friday, February 6th. Benchmark reaffirmed a "buy" rating on shares of Bio-Techne in a report on Tuesday, February 3rd. Finally, TD Cowen reissued a "buy" rating on shares of Bio-Techne in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

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