Bio-Techne Corp $TECH Stock Holdings Boosted by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lifted its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 1,710.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,518 shares of the biotechnology company’s stock after acquiring an additional 26,943 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Bio-Techne were worth $1,677,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Danske Bank A S bought a new position in shares of Bio-Techne during the fourth quarter worth about $29,000. eCIO Inc. bought a new position in shares of Bio-Techne during the fourth quarter worth about $30,000. Measured Wealth Private Client Group LLC bought a new position in shares of Bio-Techne during the third quarter worth about $32,000. iSAM Funds UK Ltd bought a new position in shares of Bio-Techne during the third quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 562 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $48.09 on Thursday. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 69.70, a PEG ratio of 3.73 and a beta of 1.41. The firm has a 50-day moving average of $52.07 and a two-hundred day moving average of $57.96.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. During the same period in the previous year, the company posted $0.56 earnings per share. Bio-Techne’s revenue was down 1.5% compared to the same quarter last year. As a group, analysts expect that Bio-Techne Corp will post 1.69 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s dividend payout ratio is presently 46.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Benchmark restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. Robert W. Baird set a $49.00 price target on shares of Bio-Techne in a research report on Thursday, May 7th. UBS Group restated a “buy” rating and set a $79.00 price target (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a report on Thursday, May 7th. Finally, Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.