Tema Etfs LLC Takes $427,000 Position in Bio-Techne Co. (NASDAQ:TECH)

Tema Etfs LLC acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 5,924 shares of the biotechnology company's stock, valued at approximately $427,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in Bio-Techne by 46.4% during the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Bio-Techne during the 4th quarter worth approximately $41,000. GeoWealth Management LLC purchased a new position in shares of Bio-Techne during the 4th quarter worth approximately $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Bio-Techne by 60.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company's stock valued at $48,000 after buying an additional 253 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of Bio-Techne by 42.6% in the 4th quarter. Huntington National Bank now owns 1,078 shares of the biotechnology company's stock valued at $78,000 after buying an additional 322 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TECH shares. Stifel Nicolaus dropped their price objective on Bio-Techne from $75.00 to $60.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Royal Bank of Canada lowered their price target on shares of Bio-Techne from $72.00 to $63.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of Bio-Techne from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Baird R W downgraded shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, UBS Group dropped their target price on shares of Bio-Techne from $95.00 to $70.00 and set a "buy" rating for the company in a report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Bio-Techne currently has a consensus rating of "Hold" and a consensus price target of $73.44.

Bio-Techne Price Performance

Bio-Techne stock traded up $0.66 during mid-day trading on Thursday, hitting $47.32. 2,050,483 shares of the company were exchanged, compared to its average volume of 1,292,871. Bio-Techne Co. has a 12-month low of $45.44 and a 12-month high of $83.96. The company has a market capitalization of $7.42 billion, a P/E ratio of 47.80, a PEG ratio of 2.88 and a beta of 1.46. The business's 50 day simple moving average is $52.73 and its two-hundred day simple moving average is $65.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.05. The firm had revenue of $316.18 million during the quarter, compared to analysts' expectations of $317.92 million. Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. Analysts forecast that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the biotechnology company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.68%. Bio-Techne's dividend payout ratio (DPR) is presently 39.02%.

Bio-Techne Company 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.