Azzad Asset Management Inc. ADV Has $774,000 Stock Holdings in Bio-Techne Corp $TECH

Azzad Asset Management Inc. ADV trimmed its position in Bio-Techne Corp (NASDAQ:TECH) by 70.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,913 shares of the biotechnology company’s stock after selling 32,429 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Bio-Techne were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TECH. Blue Trust Inc. increased its stake in shares of Bio-Techne by 109.7% in the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 237 shares during the last quarter. Allworth Financial LP lifted its position in shares of Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after buying an additional 248 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 562 shares in the last quarter. Sound Income Strategies LLC bought a new position in Bio-Techne in the third quarter valued at about $37,000. Finally, Federated Hermes Inc. bought a new position in Bio-Techne in the third quarter valued at about $37,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Price Performance

TECH stock opened at $65.48 on Tuesday. The company has a market capitalization of $10.24 billion, a P/E ratio of 128.39, a PEG ratio of 4.31 and a beta of 1.48. The company has a fifty day moving average price of $63.34 and a 200-day moving average price of $59.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $72.16.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $295.88 million for the quarter, compared to analysts’ expectations of $290.20 million. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. Bio-Techne’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. As a group, equities analysts expect that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 16th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, February 13th. Bio-Techne’s dividend payout ratio is currently 62.75%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TECH. TD Cowen reissued a “buy” rating and issued a $80.00 target price (up previously from $70.00) on shares of Bio-Techne in a report on Thursday. Stifel Nicolaus set a $65.00 price objective on shares of Bio-Techne and gave the company a “hold” rating in a research note on Thursday. Benchmark restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. Evercore boosted their target price on shares of Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Finally, Wells Fargo & Company increased their price target on Bio-Techne from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.77.

About Bio-Techne

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.