Fideuram Asset Management Ireland dac Takes Position in Bio-Techne Corp $TECH

Fideuram Asset Management Ireland dac bought a new stake in Bio-Techne Corp (NASDAQ:TECH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 116,075 shares of the biotechnology company’s stock, valued at approximately $7,168,000. Fideuram Asset Management Ireland dac owned 0.07% of Bio-Techne at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Danske Bank A S purchased a new stake in Bio-Techne during the 4th quarter worth $29,000. eCIO Inc. purchased a new stake in Bio-Techne during the 4th quarter worth $30,000. Measured Wealth Private Client Group LLC purchased a new stake in Bio-Techne during the 3rd quarter worth $32,000. iSAM Funds UK Ltd purchased a new stake in Bio-Techne during the 3rd quarter worth $33,000. Finally, Federated Hermes Inc. purchased a new stake in Bio-Techne during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of TECH stock opened at $50.84 on Friday. The firm has a market cap of $7.96 billion, a P/E ratio of 73.68, a P/E/G ratio of 3.74 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. Bio-Techne Corp has a 1-year low of $43.19 and a 1-year high of $72.16. The firm has a fifty day moving average of $52.07 and a two-hundred day moving average of $57.92.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data 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 company had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.Bio-Techne’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 earnings per share. As a group, research analysts anticipate that Bio-Techne Corp will post 1.69 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is currently 46.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TECH shares. Royal Bank Of Canada set a $62.00 price target on shares of Bio-Techne and gave the stock an “outperform” rating in a research note on Thursday, May 14th. TD Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research note on Tuesday, March 17th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Robert W. Baird set a $49.00 price target on shares of Bio-Techne in a research note on Thursday, May 7th. Finally, Citigroup dropped their price target on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. One research 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.92.

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.