Louisiana State Employees Retirement System Takes Position in Bio-Techne Corp $TECH

Louisiana State Employees Retirement System bought a new position in shares of Bio-Techne Corp (NASDAQ:TECH) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 8,000 shares of the biotechnology company’s stock, valued at approximately $418,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Morgan Stanley lifted its position in shares of Bio-Techne by 15.3% during the fourth quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock worth $490,794,000 after purchasing an additional 1,107,536 shares in the last quarter. State Street Corp boosted its position in Bio-Techne by 1.0% in the 4th quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock valued at $341,806,000 after buying an additional 58,639 shares during the period. Wellington Management Group LLP boosted its position in Bio-Techne by 12.1% in the 4th quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock valued at $337,219,000 after buying an additional 618,916 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Bio-Techne by 21.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,075,194 shares of the biotechnology company’s stock worth $239,663,000 after acquiring an additional 725,050 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position 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 worth $235,994,000 after acquiring an additional 2,495,328 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Stock Up 0.5%

Bio-Techne stock opened at $70.96 on Thursday. The stock has a market cap of $11.11 billion, a PE ratio of 102.84, a P/E/G ratio of 8.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The stock’s fifty day moving average is $55.14 and its two-hundred day moving average is $57.76. Bio-Techne Corp has a 1-year low of $43.19 and a 1-year high of $72.16.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The business had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. During the same period in the prior year, the company posted $0.56 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts expect that Bio-Techne Corp will post 1.65 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, May 18th. Bio-Techne’s dividend payout ratio is 46.38%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TECH. Stifel Nicolaus set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. William Blair lowered Bio-Techne from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 25th. Stephens set a $73.00 price objective on Bio-Techne and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 target price on the stock. in a research note on Friday, June 26th. Finally, Piper Sandler assumed coverage on shares of Bio-Techne in a report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Bio-Techne has a consensus rating of “Hold” and a consensus price target of $67.79.

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.