Securian Asset Management Inc. raised its stake in shares of Bio-Techne Co. (NASDAQ:TECH – Get Rating) by 285.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,016 shares of the biotechnology company’s stock after buying an additional 9,636 shares during the quarter. Securian Asset Management Inc.’s holdings in Bio-Techne were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the stock. Sepio Capital LP grew its holdings in Bio-Techne by 291.2% during the 4th quarter. Sepio Capital LP now owns 8,876 shares of the biotechnology company’s stock valued at $736,000 after buying an additional 6,607 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Bio-Techne by 340.7% during the 4th quarter. SG Americas Securities LLC now owns 21,533 shares of the biotechnology company’s stock valued at $1,785,000 after acquiring an additional 16,647 shares during the last quarter. BOK Financial Private Wealth Inc. boosted its position in shares of Bio-Techne by 300.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 3,200 shares of the biotechnology company’s stock valued at $265,000 after acquiring an additional 2,400 shares during the last quarter. Simplicity Solutions LLC bought a new position in shares of Bio-Techne during the 4th quarter valued at approximately $222,000. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Bio-Techne by 306.9% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 63,145 shares of the biotechnology company’s stock valued at $5,233,000 after acquiring an additional 47,628 shares during the last quarter. 23.92% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
TECH has been the subject of a number of research reports. KeyCorp lowered their target price on Bio-Techne from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. SVB Leerink lowered their target price on Bio-Techne from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Wells Fargo & Company upgraded Bio-Techne from an “underweight” rating to an “equal weight” rating and set a $90.00 target price for the company in a research report on Tuesday, January 10th. Robert W. Baird lowered their price target on Bio-Techne from $111.50 to $99.00 in a research report on Friday, February 3rd. Finally, Benchmark restated a “buy” rating and issued a $120.00 price target on shares of Bio-Techne in a research report on Friday, February 3rd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and an average price target of $104.36.
Bio-Techne Stock Performance
Bio-Techne (NASDAQ:TECH – Get Rating) last posted its earnings results on Thursday, February 2nd. The biotechnology company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.03). The company had revenue of $271.58 million during the quarter, compared to analysts’ expectations of $289.98 million. Bio-Techne had a net margin of 23.38% and a return on equity of 15.87%. On average, equities research analysts expect that Bio-Techne Co. will post 1.75 earnings per share for the current fiscal year.
Bio-Techne Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Monday, February 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, February 10th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.02. Bio-Techne’s payout ratio is 19.88%.
Bio-Techne Profile
Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.
Read More
- Get a free copy of the StockNews.com research report on Bio-Techne (TECH)
- Medtronic: Reversal In-Play For This High-Yield Stock
- Is it ‘Game Over’ for Roblox After Reporting March Metrics Miss?
- Is it Time to Take Profits in Chip Stocks?
- Will Stratasys Continue to be a Runaway Bride?
- Garrett Motion Inc. Skids on Results: Is it Time to Buy the Dip?
Receive News & Ratings for Bio-Techne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne and related companies with MarketBeat.com's FREE daily email newsletter.
