M&T Bank Corp Buys 70,496 Shares of Bio-Techne Corp $TECH

M&T Bank Corp lifted its stake in Bio-Techne Corp (NASDAQ:TECH) by 619.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 81,874 shares of the biotechnology company’s stock after buying an additional 70,496 shares during the quarter. M&T Bank Corp’s holdings in Bio-Techne were worth $4,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in Bio-Techne by 349.8% during the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after acquiring an additional 3,978,026 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Bio-Techne by 164.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock worth $235,994,000 after purchasing an additional 2,495,328 shares in the last quarter. Durable Capital Partners LP bought a new position in shares of Bio-Techne during the 3rd quarter valued at about $77,658,000. American Century Companies Inc. grew its position in shares of Bio-Techne by 78.3% during the third quarter. American Century Companies Inc. now owns 2,037,806 shares of the biotechnology company’s stock valued at $113,363,000 after purchasing an additional 894,987 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Bio-Techne by 32.3% during the third quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock valued at $183,975,000 after purchasing an additional 807,147 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

TECH has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Weiss Ratings downgraded Bio-Techne from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Robert W. Baird set a $70.00 price objective on Bio-Techne in a report on Thursday, February 5th. Finally, TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne Stock Down 0.0%

Shares of NASDAQ TECH opened at $54.17 on Monday. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. Bio-Techne Corp has a 12-month low of $46.05 and a 12-month high of $72.16. The firm’s 50-day moving average price is $55.11 and its 200-day moving average price is $59.89. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 106.23, a P/E/G ratio of 3.56 and a beta of 1.49.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $290.20 million. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Bio-Techne Corp will post 1.73 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were issued a $0.08 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. Bio-Techne’s 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.