NorthRock Partners LLC Acquires 2,245 Shares of Bio-Techne Corp $TECH

NorthRock Partners LLC raised its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 32.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,181 shares of the biotechnology company’s stock after acquiring an additional 2,245 shares during the quarter. NorthRock Partners LLC’s holdings in Bio-Techne were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TECH. Smartleaf Asset Management LLC boosted its stake in Bio-Techne by 5.1% during the first quarter. Smartleaf Asset Management LLC now owns 4,300 shares of the biotechnology company’s stock valued at $253,000 after buying an additional 210 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Bio-Techne by 0.7% during the 1st quarter. Amalgamated Bank now owns 30,646 shares of the biotechnology company’s stock worth $1,797,000 after acquiring an additional 222 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bio-Techne by 0.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,005 shares of the biotechnology company’s stock valued at $1,994,000 after acquiring an additional 249 shares during the last quarter. GC Wealth Management RIA LLC grew its holdings in shares of Bio-Techne by 2.5% in the second quarter. GC Wealth Management RIA LLC now owns 11,533 shares of the biotechnology company’s stock valued at $593,000 after purchasing an additional 284 shares in the last quarter. Finally, First Hawaiian Bank increased its position in Bio-Techne by 6.1% in the first quarter. First Hawaiian Bank now owns 5,152 shares of the biotechnology company’s stock worth $302,000 after purchasing an additional 298 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Bio-Techne Stock Up 0.5%

Shares of NASDAQ TECH opened at $59.58 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The company has a market cap of $9.28 billion, a P/E ratio of 129.52, a PEG ratio of 3.78 and a beta of 1.48. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $80.80. The firm has a 50-day simple moving average of $54.85 and a two-hundred day simple moving average of $52.56.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The firm had revenue of $316.96 million for the quarter, compared to analysts’ expectations of $315.14 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.08 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Bio-Techne’s dividend payout ratio (DPR) is presently 69.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TECH shares. Evercore ISI lifted their price objective on shares of Bio-Techne from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Scotiabank lowered their price target on shares of Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating for the company in a report on Friday, July 11th. Stephens raised Bio-Techne to a “strong-buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, July 22nd. Citigroup upgraded Bio-Techne from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $70.00 in a research report on Thursday, August 21st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus price target of $70.58.

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.