SG Americas Securities LLC raised its stake in shares of Bio-Techne Co. (NASDAQ:TECH – Get Rating) by 340.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,533 shares of the biotechnology company’s stock after purchasing an additional 16,647 shares during the period. SG Americas Securities LLC’s holdings in Bio-Techne were worth $1,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Bio-Techne by 259.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,657,545 shares of the biotechnology company’s stock valued at $137,377,000 after buying an additional 1,196,745 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Bio-Techne by 302.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,014,575 shares of the biotechnology company’s stock valued at $84,088,000 after buying an additional 762,583 shares during the last quarter. Riverbridge Partners LLC grew its stake in shares of Bio-Techne by 277.6% during the fourth quarter. Riverbridge Partners LLC now owns 825,421 shares of the biotechnology company’s stock valued at $68,411,000 after buying an additional 606,802 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Bio-Techne by 335.9% during the fourth quarter. New York State Common Retirement Fund now owns 651,488 shares of the biotechnology company’s stock valued at $53,995,000 after buying an additional 502,014 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in shares of Bio-Techne by 296.3% during the fourth quarter. Stephens Investment Management Group LLC now owns 651,405 shares of the biotechnology company’s stock valued at $55,024,000 after buying an additional 487,014 shares during the last quarter. 23.92% of the stock is currently owned by hedge funds and other institutional investors.
Bio-Techne Stock Up 0.8 %
Bio-Techne stock opened at $84.10 on Tuesday. The business has a fifty day moving average of $75.91 and a two-hundred day moving average of $80.33. The company has a quick ratio of 3.15, a current ratio of 4.40 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.23 billion, a P/E ratio of 52.24, a P/E/G ratio of 2.64 and a beta of 1.25. Bio-Techne Co. has a twelve month low of $68.00 and a twelve month high of $100.29.
Bio-Techne Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Stockholders of record on Monday, February 13th were given a $0.08 dividend. This is a boost from Bio-Techne’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Friday, February 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.38%. Bio-Techne’s dividend payout ratio (DPR) is presently 19.88%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on TECH shares. Royal Bank of Canada cut their target price on Bio-Techne from $89.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Monday, February 6th. Wells Fargo & Company raised Bio-Techne from an “underweight” rating to an “equal weight” rating and set a $90.00 target price on the stock in a research note on Tuesday, January 10th. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Monday, April 17th. SVB Leerink dropped their price objective on Bio-Techne from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Finally, Benchmark reissued a “buy” rating and issued a $120.00 price objective on shares of Bio-Techne in a research note on Friday, February 3rd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and an average price target of $104.36.
About Bio-Techne
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.
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