Snyder Capital Management L P Has $95.64 Million Stake in Bio-Techne Corp $TECH

Snyder Capital Management L P grew its stake in Bio-Techne Corp (NASDAQ:TECH) by 28.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,719,135 shares of the biotechnology company’s stock after buying an additional 384,694 shares during the period. Bio-Techne makes up approximately 1.8% of Snyder Capital Management L P’s holdings, making the stock its 16th biggest position. Snyder Capital Management L P owned about 1.10% of Bio-Techne worth $95,635,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions 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 grew its position in shares of Bio-Techne by 0.5% in the third quarter. Arizona State Retirement System now owns 46,356 shares of the biotechnology company’s stock valued at $2,579,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

TECH has been the subject of several research analyst reports. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. 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. Argus increased their price objective on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. Finally, Robert W. Baird set a $70.00 target price on shares of Bio-Techne in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne Stock Performance

Shares of NASDAQ TECH opened at $57.85 on Thursday. Bio-Techne Corp has a one year low of $46.01 and a one year high of $72.16. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $63.04 and a 200 day simple moving average of $60.01. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 113.43, a PEG ratio of 3.78 and a beta of 1.48.

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

Bio-Techne Announces Dividend

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 $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s dividend payout ratio is 62.75%.

Bio-Techne Company 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.