Captrust Financial Advisors acquired a new position in shares of BIO-TECHNE Corp (NASDAQ:TECH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,624 shares of the biotechnology company’s stock, valued at approximately $1,506,000.
Several other institutional investors also recently made changes to their positions in the stock. Bamco Inc. NY grew its stake in shares of BIO-TECHNE by 1.4% during the third quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock worth $183,780,000 after purchasing an additional 20,286 shares during the period. Jackson Square Partners LLC grew its stake in shares of BIO-TECHNE by 8.1% during the fourth quarter. Jackson Square Partners LLC now owns 931,400 shares of the biotechnology company’s stock worth $120,662,000 after purchasing an additional 69,784 shares during the period. Bank of New York Mellon Corp grew its stake in shares of BIO-TECHNE by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 501,317 shares of the biotechnology company’s stock worth $60,603,000 after purchasing an additional 2,698 shares during the period. Citadel Advisors LLC grew its stake in shares of BIO-TECHNE by 28.8% during the fourth quarter. Citadel Advisors LLC now owns 416,736 shares of the biotechnology company’s stock worth $53,988,000 after purchasing an additional 93,175 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of BIO-TECHNE by 13.7% during the fourth quarter. First Trust Advisors LP now owns 410,991 shares of the biotechnology company’s stock worth $53,244,000 after purchasing an additional 49,470 shares during the period. 97.15% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on TECH shares. Leerink Swann reaffirmed a “buy” rating on shares of BIO-TECHNE in a research note on Tuesday, December 5th. Deutsche Bank set a $163.00 price objective on BIO-TECHNE and gave the stock a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research raised BIO-TECHNE from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a research note on Saturday, February 10th. Robert W. Baird reaffirmed a “buy” rating and set a $154.00 price objective on shares of BIO-TECHNE in a research note on Thursday, January 18th. Finally, BidaskClub raised BIO-TECHNE from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. BIO-TECHNE has a consensus rating of “Buy” and an average price target of $148.60.
BIO-TECHNE Corp (TECH) opened at $146.69 on Tuesday. BIO-TECHNE Corp has a 52 week low of $98.22 and a 52 week high of $147.32. The company has a quick ratio of 2.49, a current ratio of 3.10 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $5,484.70, a PE ratio of 48.10, a price-to-earnings-growth ratio of 2.81 and a beta of 0.75.
BIO-TECHNE (NASDAQ:TECH) last posted its earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The firm had revenue of $154.15 million during the quarter, compared to analysts’ expectations of $145.93 million. During the same period in the previous year, the firm earned $0.81 earnings per share. The company’s revenue was up 16.9% on a year-over-year basis. equities research analysts predict that BIO-TECHNE Corp will post 4.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.28 dividend on an annualized basis and a yield of 0.87%. BIO-TECHNE’s payout ratio is 41.97%.
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BIO-TECHNE Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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