Nordea Investment Management AB Has $2.27 Million Holdings in Bio-Techne Corp $TECH

Key Points

• Nordea Investment Management AB increased its stake in Bio-Techne Corp by 20.9% during the second quarter, bringing its holdings to 43,864 shares valued at approximately $2.27 million.
• Various hedge funds have shown interest in Bio-Techne, with 98.95% of the stock currently owned by institutional investors, reflecting growing confidence in the company.
• Analysts have mostly upgraded Bio-Techne's ratings, with a consensus average price target set at $70.58, indicating positive sentiment surrounding its future performance.

Nordea Investment Management AB increased its position in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 20.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,864 shares of the biotechnology company's stock after acquiring an additional 7,582 shares during the quarter. Nordea Investment Management AB's holdings in Bio-Techne were worth $2,268,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC bought a new position in shares of Bio-Techne in the first quarter worth about $34,000. Federated Hermes Inc. acquired a new stake in Bio-Techne in the 1st quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd increased its position in Bio-Techne by 1,239.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company's stock worth $54,000 after buying an additional 855 shares during the period. Horizon Financial Services LLC acquired a new position in shares of Bio-Techne during the first quarter worth approximately $69,000. Finally, Mather Group LLC. lifted its holdings in shares of Bio-Techne by 78.4% during the first quarter. Mather Group LLC. now owns 1,215 shares of the biotechnology company's stock worth $71,000 after buying an additional 534 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TECH has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of Bio-Techne from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 7th. Zacks Research upgraded shares of Bio-Techne from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Stephens raised Bio-Techne to a "strong-buy" rating and set a $65.00 target price on the stock in a research report on Tuesday, July 22nd. Citigroup raised Bio-Techne from a "neutral" rating to a "buy" rating and upped their price target for the company from $55.00 to $70.00 in a report on Thursday, August 21st. Finally, TD Cowen lifted their price objective on Bio-Techne from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Bio-Techne currently has an average rating of "Moderate Buy" and an average target price of $70.58.

Bio-Techne Trading Up 0.5%

TECH stock opened at $63.79 on Thursday. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $80.80. The company has a current ratio of 3.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $55.95 and its 200-day moving average is $52.78. The firm has a market cap of $9.93 billion, a P/E ratio of 138.68, a P/E/G ratio of 3.71 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business had revenue of $316.96 million during the quarter, compared to the consensus estimate of $315.14 million. During the same quarter last year, the company earned $0.49 EPS. Bio-Techne's revenue was up 3.6% on a year-over-year basis. Equities analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne's dividend payout ratio is presently 69.57%.

Bio-Techne Profile

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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