Royce & Associates LP Has $36.72 Million Stake in Bio-Techne Corp $TECH

Royce & Associates LP reduced its stake in Bio-Techne Corp (NASDAQ:TECH) by 24.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 660,034 shares of the biotechnology company’s stock after selling 210,853 shares during the quarter. Royce & Associates LP’s holdings in Bio-Techne were worth $36,718,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TECH. Oak Thistle LLC raised its position in shares of Bio-Techne by 1.9% in the third quarter. Oak Thistle LLC now owns 9,314 shares of the biotechnology company’s stock valued at $518,000 after purchasing an additional 173 shares during the period. Exchange Traded Concepts LLC raised its holdings in Bio-Techne by 5.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,630 shares of the biotechnology company’s stock worth $202,000 after acquiring an additional 192 shares during the period. Farther Finance Advisors LLC lifted its position in Bio-Techne by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,883 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 198 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Bio-Techne by 5.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 4,134 shares of the biotechnology company’s stock worth $213,000 after acquiring an additional 219 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Bio-Techne by 0.5% during the third quarter. Arizona State Retirement System now owns 46,356 shares of the biotechnology company’s stock valued at $2,579,000 after acquiring an additional 220 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $59.00 on Monday. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $72.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. The firm has a market cap of $9.23 billion, a P/E ratio of 115.69, a price-to-earnings-growth ratio of 3.92 and a beta of 1.48. The firm’s 50-day simple moving average is $63.12 and its 200-day simple moving average is $59.97.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The company had revenue of $295.88 million for the quarter, compared to analyst estimates of $290.20 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, research analysts expect that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Bio-Techne’s dividend payout ratio is 62.75%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TECH. UBS Group reiterated a “buy” rating and issued a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Citigroup reiterated a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. Evercore raised their price objective on shares of Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 20th. Finally, Argus raised their price target on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.