Bio-Techne Corp $TECH Shares Bought by William Blair Investment Management LLC

William Blair Investment Management LLC grew its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 40.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,398,265 shares of the biotechnology company’s stock after purchasing an additional 688,603 shares during the period. William Blair Investment Management LLC owned approximately 1.53% of Bio-Techne worth $141,042,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Impax Asset Management Group plc acquired a new position in shares of Bio-Techne during the fourth quarter valued at $11,468,000. Caprock Group LLC bought a new position in Bio-Techne during the third quarter valued at about $1,710,000. Hollow Brook Wealth Management LLC boosted its stake in Bio-Techne by 69.7% during the third quarter. Hollow Brook Wealth Management LLC now owns 174,677 shares of the biotechnology company’s stock valued at $9,717,000 after buying an additional 71,739 shares in the last quarter. Madison Asset Management LLC bought a new position in Bio-Techne during the third quarter valued at about $41,425,000. Finally, Cramer Rosenthal Mcglynn LLC boosted its stake in Bio-Techne by 7.1% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 559,189 shares of the biotechnology company’s stock valued at $31,108,000 after buying an additional 37,200 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Trading Up 1.8%

NASDAQ:TECH opened at $48.21 on Friday. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a 1-year low of $43.19 and a 1-year high of $72.16. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 69.87, a price-to-earnings-growth ratio of 3.75 and a beta of 1.41. The stock has a fifty day simple moving average of $52.21 and a 200 day simple moving average of $58.23.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The company had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. During the same quarter last year, the business earned $0.56 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that Bio-Techne Corp will post 1.69 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be given a $0.08 dividend. The ex-dividend date is Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.7%. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TECH. Citigroup decreased their target price on Bio-Techne from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Stifel Nicolaus set a $50.00 target price on Bio-Techne in a research note on Thursday, May 7th. Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. UBS Group reaffirmed a “buy” rating and set a $79.00 target price (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Finally, Evercore set a $50.00 target price on Bio-Techne in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.92.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.