Royce & Associates LP Grows Position in Bio-Techne Corp $TECH

Royce & Associates LP lifted its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 678,502 shares of the biotechnology company’s stock after purchasing an additional 18,468 shares during the quarter. Royce & Associates LP owned about 0.43% of Bio-Techne worth $39,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TECH. Summitry LLC raised its position in Bio-Techne by 19.3% in the fourth quarter. Summitry LLC now owns 5,134 shares of the biotechnology company’s stock valued at $302,000 after purchasing an additional 829 shares during the period. Choate Investment Advisors purchased a new stake in Bio-Techne in the fourth quarter valued at approximately $1,148,000. New Age Alpha Advisors LLC raised its position in Bio-Techne by 48.1% in the fourth quarter. New Age Alpha Advisors LLC now owns 25,341 shares of the biotechnology company’s stock valued at $1,490,000 after purchasing an additional 8,236 shares during the period. Hantz Financial Services Inc. raised its position in Bio-Techne by 12.3% in the fourth quarter. Hantz Financial Services Inc. now owns 17,984 shares of the biotechnology company’s stock valued at $1,058,000 after purchasing an additional 1,973 shares during the period. Finally, William Blair Investment Management LLC raised its position in Bio-Techne by 40.3% in the fourth quarter. William Blair Investment Management LLC now owns 2,398,265 shares of the biotechnology company’s stock valued at $141,042,000 after purchasing an additional 688,603 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 analysts have issued reports on the company. TD Cowen reissued a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Royal Bank Of Canada set a $62.00 target price on Bio-Techne and gave the company an “outperform” rating in a research report on Thursday, May 14th. Robert W. Baird set a $49.00 target price on Bio-Techne in a research report on Thursday, May 7th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.92.

Bio-Techne Stock Performance

NASDAQ TECH opened at $48.21 on Tuesday. The company has a market cap of $7.55 billion, a P/E ratio of 69.87, a P/E/G ratio of 3.75 and a beta of 1.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The stock has a 50-day moving average of $52.14 and a two-hundred day moving average of $58.12. Bio-Techne Corp has a 1-year low of $43.19 and a 1-year high of $72.16.

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

Bio-Techne Announces Dividend

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

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.