Neuberger Berman Group LLC Has $183.98 Million Stock Holdings in Bio-Techne Corp $TECH

Key Points

• Neuberger Berman Group LLC increased its stake in Bio‑Techne by 32.3% to 3,307,116 shares worth about $183.98 million, representing roughly 2.12% of the company.
• Several other institutions — including Norges Bank, American Century, William Blair, Madison Asset and Worldquant Millennium — also added sizable positions, leaving institutional and hedge funds with about 98.95% ownership.
• Bio‑Techne recently beat quarterly estimates (EPS $0.46 vs. $0.43; revenue $295.9M vs. $290.2M), pays a $0.08 quarterly dividend (0.6% yield), and trades at a high P/E of ~105.7 with a market cap near $8.43 billion.

Neuberger Berman Group LLC boosted its holdings in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 32.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,307,116 shares of the biotechnology company's stock after purchasing an additional 807,147 shares during the period. Neuberger Berman Group LLC owned about 2.12% of Bio-Techne worth $183,975,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TECH. Norges Bank acquired a new position in shares of Bio-Techne in the 2nd quarter worth approximately $98,238,000. American Century Companies Inc. boosted its stake in Bio-Techne by 78.3% in the 3rd quarter. American Century Companies Inc. now owns 2,037,806 shares of the biotechnology company's stock valued at $113,363,000 after buying an additional 894,987 shares in the last quarter. Madison Asset Management LLC bought a new stake in Bio-Techne in the third quarter valued at $41,425,000. William Blair Investment Management LLC raised its stake in Bio-Techne by 75.9% during the third quarter. William Blair Investment Management LLC now owns 1,709,662 shares of the biotechnology company's stock worth $95,108,000 after acquiring an additional 737,577 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Bio-Techne during the second quarter worth $31,421,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Down 3.6%

Shares of NASDAQ:TECH opened at $53.89 on Friday. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. The firm has a market cap of $8.43 billion, a P/E ratio of 105.67, a P/E/G ratio of 3.71 and a beta of 1.48. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $72.16. The company's 50-day moving average price is $62.87 and its two-hundred day moving average price is $59.98.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted $0.42 earnings per share. The company's revenue was down .4% on a year-over-year basis. As a group, research analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

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

Analyst Ratings Changes

TECH has been the topic of several recent analyst reports. Zacks Research upgraded shares of Bio-Techne from a "strong sell" rating to a "hold" rating in a research note on Monday, February 9th. Stifel Nicolaus set a $65.00 price target on shares of Bio-Techne and gave the company a "hold" rating in a research report on Thursday, February 5th. Benchmark reaffirmed a "buy" rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. UBS Group reaffirmed a "buy" rating and set a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Finally, Argus boosted their target price on Bio-Techne from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Bio-Techne presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.77.

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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