Pinebridge Investments L.P. purchased a new stake in Bio-Techne Co. (NASDAQ:TECH – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 282 shares of the biotechnology company’s stock, valued at approximately $146,000.
Other institutional investors have also bought and sold shares of the company. UMB Bank N A MO acquired a new stake in Bio-Techne in the fourth quarter valued at $53,000. Ten Capital Wealth Advisors LLC acquired a new stake in Bio-Techne in the fourth quarter valued at $61,000. Concord Wealth Partners raised its stake in Bio-Techne by 605.0% in the fourth quarter. Concord Wealth Partners now owns 141 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 121 shares in the last quarter. Archer Investment Corp acquired a new stake in Bio-Techne in the fourth quarter valued at $78,000. Finally, Tobam raised its stake in Bio-Techne by 121.7% in the third quarter. Tobam now owns 153 shares of the biotechnology company’s stock valued at $74,000 after buying an additional 84 shares in the last quarter. Institutional investors own 94.36% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Bio-Techne from a “hold” rating to a “buy” rating and set a $394.00 target price on the stock in a research report on Thursday, May 12th. SVB Leerink lifted their target price on Bio-Techne from $530.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 2nd. Robert W. Baird cut their target price on Bio-Techne from $520.00 to $500.00 in a research report on Thursday, May 5th. Wells Fargo & Company cut Bio-Techne from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $400.00 to $370.00 in a research report on Monday, April 25th. Finally, StockNews.com assumed coverage on Bio-Techne in a research report on Thursday, March 31st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $488.43.
Bio-Techne (NASDAQ:TECH – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.21. Bio-Techne had a return on equity of 16.82% and a net margin of 20.95%. The firm had revenue of $290.40 million for the quarter, compared to analysts’ expectations of $279.27 million. During the same quarter in the previous year, the firm posted $1.61 EPS. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. Analysts expect that Bio-Techne Co. will post 7.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Monday, May 16th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, May 13th. Bio-Techne’s dividend payout ratio is presently 23.36%.
In other Bio-Techne news, Director Robert V. Baumgartner acquired 300 shares of the stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $352.55 per share, with a total value of $105,765.00. Following the acquisition, the director now owns 10,106 shares of the company’s stock, valued at $3,562,870.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by insiders.
Bio-Techne Company Profile (Get Rating)
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.
- Get a free copy of the StockNews.com research report on Bio-Techne (TECH)
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