Natixis Advisors L.P. boosted its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 284,192 shares of the biotechnology company's stock after acquiring an additional 62,632 shares during the quarter. Natixis Advisors L.P. owned 0.18% of Bio-Techne worth $21,928,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bio-Techne during the third quarter worth about $27,000. CVA Family Office LLC bought a new stake in Bio-Techne during the fourth quarter worth about $31,000. First Horizon Advisors Inc. grew its stake in Bio-Techne by 57.9% during the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company's stock worth $40,000 after buying an additional 191 shares during the last quarter. GAMMA Investing LLC bought a new stake in Bio-Techne during the fourth quarter worth about $44,000. Finally, Federated Hermes Inc. bought a new stake in Bio-Techne during the third quarter worth about $47,000. Institutional investors own 98.95% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on TECH. Benchmark restated a "buy" rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Thursday. Stifel Nicolaus lowered shares of Bio-Techne from a "buy" rating to a "hold" rating and set a $65.00 price objective on the stock. in a report on Friday, February 2nd. Royal Bank of Canada cut their price objective on shares of Bio-Techne from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bio-Techne from $85.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, April 18th. Finally, Scotiabank started coverage on shares of Bio-Techne in a report on Thursday, February 8th. They issued a "sector outperform" rating and a $80.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.50.
Read Our Latest Stock Analysis on TECH
Bio-Techne Stock Performance
Shares of NASDAQ TECH traded down $1.23 during mid-day trading on Monday, reaching $76.06. 1,090,355 shares of the company were exchanged, compared to its average volume of 1,116,837. The company's 50-day simple moving average is $69.76 and its 200-day simple moving average is $68.57. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $11.96 billion, a P/E ratio of 61.34, a P/E/G ratio of 9.08 and a beta of 1.23. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $89.91.
Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The company had revenue of $303.43 million during the quarter, compared to analysts' expectations of $292.36 million. During the same quarter last year, the company posted $0.47 EPS. Bio-Techne's quarterly revenue was up 3.2% compared to the same quarter last year. As a group, research analysts predict that Bio-Techne Co. will post 1.52 earnings per share for the current year.
Bio-Techne Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, May 10th. Bio-Techne's dividend payout ratio (DPR) is 25.40%.
Insiders Place Their Bets
In other news, Director Roeland Nusse sold 10,400 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the transaction, the director now directly owns 43,097 shares in the company, valued at approximately $3,317,607.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.10% of the company's stock.
About Bio-Techne
(
Free Report)
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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