Tygh Capital Management Inc. Has $7.53 Million Stake in BIO-TECHNE Corp (TECH)
Tygh Capital Management Inc. lifted its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 30.3% during the 4th quarter, Holdings Channel reports. The firm owned 52,062 shares of the biotechnology company’s stock after acquiring an additional 12,105 shares during the period. BIO-TECHNE accounts for about 1.6% of Tygh Capital Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Tygh Capital Management Inc.’s holdings in BIO-TECHNE were worth $7,534,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. increased its position in BIO-TECHNE by 41,650.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 7,515 shares of the biotechnology company’s stock valued at $1,112,000 after purchasing an additional 7,497 shares during the period. United Services Automobile Association increased its position in BIO-TECHNE by 11.4% during the 2nd quarter. United Services Automobile Association now owns 7,589 shares of the biotechnology company’s stock valued at $1,123,000 after purchasing an additional 778 shares during the period. Nisa Investment Advisors LLC increased its position in BIO-TECHNE by 10.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 19,050 shares of the biotechnology company’s stock valued at $3,888,000 after purchasing an additional 1,800 shares during the period. Argus Investors Counsel Inc. purchased a new position in BIO-TECHNE during the 3rd quarter valued at $426,000. Finally, BB&T Corp purchased a new position in BIO-TECHNE during the 3rd quarter valued at $234,000. Institutional investors and hedge funds own 99.00% of the company’s stock.
TECH has been the topic of a number of research analyst reports. Stephens raised shares of BIO-TECHNE from an “equal weight” rating to an “overweight” rating and set a $180.00 price objective on the stock in a research report on Monday, January 14th. Goldman Sachs Group initiated coverage on shares of BIO-TECHNE in a report on Wednesday, October 17th. They set a “neutral” rating and a $190.00 target price on the stock. BidaskClub cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Zacks Investment Research upgraded shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Finally, Craig Hallum cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating and dropped their target price for the company from $215.00 to $154.00 in a report on Wednesday, October 31st. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $188.13.
BIO-TECHNE (NASDAQ:TECH) last announced its earnings results on Tuesday, February 5th. The biotechnology company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. BIO-TECHNE had a net margin of 14.02% and a return on equity of 13.90%. The firm had revenue of $174.50 million for the quarter, compared to analysts’ expectations of $171.39 million. During the same quarter in the previous year, the business posted $1.02 EPS. The company’s quarterly revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts forecast that BIO-TECHNE Corp will post 3.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, February 14th. BIO-TECHNE’s dividend payout ratio (DPR) is presently 31.45%.
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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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