Bio-Techne Corp $TECH Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 285,151 shares of the biotechnology company’s stock after buying an additional 34,255 shares during the period. BNP Paribas Financial Markets’ holdings in Bio-Techne were worth $16,770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of Bio-Techne by 349.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after acquiring an additional 3,978,026 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Bio-Techne by 164.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock valued at $235,994,000 after purchasing an additional 2,495,328 shares during the period. Invesco Ltd. raised its stake in shares of Bio-Techne by 7.7% during the third quarter. Invesco Ltd. now owns 3,946,028 shares of the biotechnology company’s stock valued at $219,518,000 after purchasing an additional 283,303 shares during the period. Neuberger Berman Group LLC raised its stake in shares of Bio-Techne by 32.3% during the third quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock valued at $183,975,000 after purchasing an additional 807,147 shares during the period. Finally, Mairs & Power Inc. lifted its position in shares of Bio-Techne by 3.4% during the third quarter. Mairs & Power Inc. now owns 2,807,409 shares of the biotechnology company’s stock worth $156,176,000 after purchasing an additional 91,031 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

TECH opened at $51.99 on Friday. The company has a 50-day moving average of $52.01 and a 200-day moving average of $57.58. The company has a market capitalization of $8.14 billion, a P/E ratio of 75.35, a PEG ratio of 4.97 and a beta of 1.37. Bio-Techne Corp has a 1-year low of $43.19 and a 1-year high of $72.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49.

Bio-Techne (NASDAQ:TECH) last released its earnings results 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 during the quarter, compared to the consensus estimate 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 for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. Equities analysts expect that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, May 18th. Bio-Techne’s dividend payout ratio is currently 46.38%.

Wall Street Analysts Forecast Growth

TECH has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $62.00 price objective on shares of Bio-Techne and gave the stock an “outperform” rating in a report on Thursday, May 14th. Evercore set a $50.00 price objective on shares of Bio-Techne in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Citigroup cut their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. One equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.17.

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.