1,128 Shares in BIO-TECHNE Corp (TECH) Purchased by D.A. Davidson & CO.
D.A. Davidson & CO. purchased a new position in shares of BIO-TECHNE Corp (NASDAQ:TECH) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,128 shares of the biotechnology company’s stock, valued at approximately $230,000.
Other large investors have also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC bought a new stake in shares of BIO-TECHNE during the second quarter worth about $113,000. Fort L.P. bought a new stake in shares of BIO-TECHNE during the second quarter worth about $115,000. Robecosam AG bought a new stake in shares of BIO-TECHNE during the second quarter worth about $144,000. Meeder Asset Management Inc. grew its holdings in shares of BIO-TECHNE by 220.3% during the third quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 489 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of BIO-TECHNE during the third quarter worth about $192,000. Institutional investors own 93.90% of the company’s stock.
Several analysts have recently weighed in on TECH shares. Zacks Investment Research cut BIO-TECHNE from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 15th. ValuEngine upgraded BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. Argus boosted their price target on BIO-TECHNE from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. BidaskClub cut BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Finally, Goldman Sachs Group started coverage on BIO-TECHNE in a report on Wednesday, October 17th. They set a “neutral” rating and a $190.00 price target on the stock. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $181.00.
BIO-TECHNE (NASDAQ:TECH) last announced its earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The business had revenue of $163.00 million for the quarter, compared to analysts’ expectations of $162.34 million. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that BIO-TECHNE Corp will post 3.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, November 8th. BIO-TECHNE’s payout ratio is presently 31.45%.
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BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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