BI Asset Management Fondsmaeglerselskab A S Has $19.04 Million Position in Bio-Techne Corp $TECH

BI Asset Management Fondsmaeglerselskab A S increased its position in Bio-Techne Corp (NASDAQ:TECH) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 323,805 shares of the biotechnology company’s stock after buying an additional 18,718 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Bio-Techne were worth $19,043,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TECH. Wellington Management Group LLP grew its holdings in Bio-Techne by 349.8% during the third 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 grew its holdings in 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 last quarter. Invesco Ltd. grew its holdings in 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 last quarter. Neuberger Berman Group LLC grew its holdings in 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 last quarter. Finally, Mairs & Power Inc. grew its holdings in Bio-Techne by 3.4% during the third 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 2.2%

TECH opened at $51.99 on Friday. Bio-Techne Corp has a 1-year low of $43.19 and a 1-year 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 stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 75.35, a P/E/G ratio of 4.97 and a beta of 1.37. The business has a 50 day moving average of $52.01 and a 200-day moving average of $57.58.

Bio-Techne (NASDAQ:TECH) last posted 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). 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 the consensus estimate of $316.11 million. During the same period in the prior year, the company posted $0.56 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend 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 Analyst Weigh In

Several brokerages have commented on TECH. Weiss Ratings upgraded Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a report on Thursday, May 7th. Robert W. Baird set a $49.00 price target on Bio-Techne in a report on Thursday, May 7th. Finally, Zacks Research upgraded 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 assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.