Dorsey & Whitney Trust CO LLC Has $7.96 Million Stock Holdings in Bio-Techne Corp $TECH

Dorsey & Whitney Trust CO LLC decreased its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 10.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,325 shares of the biotechnology company’s stock after selling 16,302 shares during the quarter. Dorsey & Whitney Trust CO LLC owned approximately 0.09% of Bio-Techne worth $7,958,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in 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 purchasing an additional 3,978,026 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Bio-Techne by 164.4% during the 4th 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 last quarter. Invesco Ltd. lifted its holdings in Bio-Techne by 7.7% during the 3rd 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 last quarter. Neuberger Berman Group LLC lifted its holdings in Bio-Techne by 32.3% during the 3rd 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 last quarter. Finally, Mairs & Power Inc. lifted its holdings in Bio-Techne by 3.4% during the 3rd quarter. Mairs & Power Inc. now owns 2,807,409 shares of the biotechnology company’s stock valued at $156,176,000 after purchasing an additional 91,031 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Down 3.5%

TECH stock opened at $52.50 on Thursday. The company has a market cap of $8.22 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 5.20 and a beta of 1.37. The business has a 50-day simple moving average of $52.09 and a 200 day simple moving average of $57.47. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.16. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. Sell-side analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

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

Analysts Set New Price Targets

TECH has been the subject of a number of research reports. Evercore set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. Stifel Nicolaus set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. Robert W. Baird set a $49.00 target price on Bio-Techne in a report on Thursday, May 7th. Wells Fargo & Company dropped their target price on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.