Bio-Techne Co. (NASDAQ:TECH) Holdings Lifted by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. boosted its holdings in Bio-Techne Co. (NASDAQ:TECH) by 5.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 14,893 shares of the biotechnology company’s stock after purchasing an additional 786 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Bio-Techne were worth $1,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB grew its stake in shares of Bio-Techne by 1,116.2% in the 4th quarter. Handelsbanken Fonder AB now owns 403,148 shares of the biotechnology company’s stock worth $31,107,000 after purchasing an additional 370,000 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Bio-Techne by 13.8% during the third quarter. Bank of New York Mellon Corp now owns 2,476,552 shares of the biotechnology company’s stock worth $168,579,000 after buying an additional 300,903 shares in the last quarter. Invesco Ltd. grew its position in Bio-Techne by 14.8% in the third quarter. Invesco Ltd. now owns 1,880,812 shares of the biotechnology company’s stock worth $128,027,000 after buying an additional 241,771 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Bio-Techne in the third quarter valued at $15,499,000. Finally, Mackenzie Financial Corp lifted its position in shares of Bio-Techne by 9.4% during the 3rd quarter. Mackenzie Financial Corp now owns 2,329,033 shares of the biotechnology company’s stock valued at $154,881,000 after acquiring an additional 200,032 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the transaction, the director now directly owns 43,097 shares in the company, valued at approximately $3,317,607.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.45% of the company’s stock.

Analyst Upgrades and Downgrades

TECH has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Stephens reduced their price target on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Robert W. Baird lifted their price objective on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Friday, February 2nd. Finally, Royal Bank of Canada lowered their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and an average price target of $80.50.

Bio-Techne Stock Up 3.6 %

Shares of NASDAQ TECH traded up $2.66 during trading hours on Thursday, hitting $76.12. The stock had a trading volume of 1,116,583 shares, compared to its average volume of 1,098,535. The firm’s 50-day moving average price is $69.57 and its two-hundred day moving average price is $68.44. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week high of $89.91. The company has a market capitalization of $11.97 billion, a P/E ratio of 55.20, a P/E/G ratio of 7.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.03 and a current ratio of 4.37.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. Bio-Techne’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 EPS. Analysts anticipate that Bio-Techne Co. will post 1.52 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, May 10th. Bio-Techne’s payout ratio is 23.19%.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.