State of Wyoming Has $613,000 Position in Bio-Techne Co. (NASDAQ:TECH)

State of Wyoming boosted its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,507 shares of the biotechnology company’s stock after purchasing an additional 469 shares during the quarter. State of Wyoming’s holdings in Bio-Techne were worth $613,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position 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 during the period. Itau Unibanco Holding S.A. bought a new stake in Bio-Techne during the fourth quarter worth approximately $41,000. GeoWealth Management LLC bought a new stake in Bio-Techne during the fourth quarter worth approximately $43,000. MassMutual Private Wealth & Trust FSB boosted its position in Bio-Techne by 60.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 253 shares during the period. Finally, Huntington National Bank boosted its position in Bio-Techne by 42.6% during the fourth quarter. Huntington National Bank now owns 1,078 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 322 shares during the period. Institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore ISI assumed coverage on Bio-Techne in a research report on Tuesday, March 18th. They set an “outperform” rating and a $75.00 target price for the company. Royal Bank of Canada reduced their price objective on Bio-Techne from $72.00 to $63.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. KeyCorp reissued a “sector weight” rating on shares of Bio-Techne in a research report on Wednesday, April 9th. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Benchmark reduced their price objective on Bio-Techne from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Bio-Techne has an average rating of “Hold” and a consensus target price of $73.44.

Bio-Techne Stock Up 1.9%

Shares of TECH stock opened at $49.15 on Monday. The stock has a market cap of $7.71 billion, a P/E ratio of 49.65, a price-to-earnings-growth ratio of 2.88 and a beta of 1.46. Bio-Techne Co. has a one year low of $46.01 and a one year high of $84.22. The stock has a fifty day moving average price of $53.46 and a 200 day moving average price of $65.45. 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) last issued its earnings results on Wednesday, May 7th. The biotechnology company reported $0.56 EPS for the quarter, topping the consensus estimate 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%. Bio-Techne’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. Analysts predict that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a $0.08 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.32 annualized dividend and a yield of 0.65%. Bio-Techne’s dividend payout ratio (DPR) is currently 39.02%.

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

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.