744,651 Shares in Bio-Techne Corp $TECH Bought by Madison Asset Management LLC

Madison Asset Management LLC purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 744,651 shares of the biotechnology company’s stock, valued at approximately $41,425,000.

Several other large investors have also made changes to their positions in TECH. Goldman Sachs Group Inc. lifted its holdings in Bio-Techne by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after purchasing an additional 113,634 shares in the last quarter. Woodline Partners LP raised its position in shares of Bio-Techne by 40.0% during the first quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after buying an additional 3,814 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Bio-Techne by 20.9% in the second quarter. Truist Financial Corp now owns 17,671 shares of the biotechnology company’s stock worth $909,000 after buying an additional 3,060 shares in the last quarter. Aberdeen Group plc boosted its position in shares of Bio-Techne by 2.9% during the second quarter. Aberdeen Group plc now owns 97,128 shares of the biotechnology company’s stock worth $4,997,000 after acquiring an additional 2,736 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Bio-Techne by 65.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,268 shares of the biotechnology company’s stock worth $1,557,000 after acquiring an additional 11,992 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Trading Down 1.0%

Shares of NASDAQ TECH opened at $64.80 on Wednesday. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $72.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 3.08. The business’s 50 day moving average is $63.37 and its two-hundred day moving average is $59.53. The stock has a market capitalization of $10.14 billion, a P/E ratio of 127.06, a PEG ratio of 4.11 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The firm had revenue of $295.88 million during the quarter, compared to analysts’ expectations of $290.20 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts expect that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio is currently 62.75%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. TD Cowen reiterated a “buy” rating and issued a $80.00 price target (up previously from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Wells Fargo & Company boosted their target price on Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Citigroup reissued a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Wednesday, February 4th. Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $72.00 target price on Bio-Techne and gave the company a “buy” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.77.

Bio-Techne 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.