Hoese & Co LLP Takes $51,000 Position in Bio-Techne Corp $TECH

Hoese & Co LLP acquired a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,000 shares of the biotechnology company’s stock, valued at approximately $51,000.

Other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bio-Techne by 17.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,630 shares of the biotechnology company’s stock valued at $1,153,000 after buying an additional 2,980 shares during the period. Teacher Retirement System of Texas purchased a new stake in Bio-Techne during the 1st quarter worth $1,362,000. Park Avenue Securities LLC purchased a new stake in Bio-Techne during the 2nd quarter worth $270,000. State of Alaska Department of Revenue boosted its position in Bio-Techne by 2.2% during the 1st quarter. State of Alaska Department of Revenue now owns 18,524 shares of the biotechnology company’s stock worth $1,086,000 after purchasing an additional 405 shares during the period. Finally, Amalgamated Bank boosted its position in Bio-Techne by 0.7% during the 1st quarter. Amalgamated Bank now owns 30,646 shares of the biotechnology company’s stock worth $1,797,000 after purchasing an additional 222 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $61.86 on Friday. The firm has a market cap of $9.63 billion, a PE ratio of 134.48, a price-to-earnings-growth ratio of 3.93 and a beta of 1.48. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $80.80. The firm’s 50-day simple moving average is $55.31 and its 200-day simple moving average is $52.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $316.96 million for the quarter, compared to analyst estimates of $315.14 million. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. Bio-Techne’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. Equities analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 18th. Bio-Techne’s dividend payout ratio (DPR) is currently 69.57%.

Analyst Ratings Changes

A number of analysts recently weighed in on TECH shares. Citigroup raised shares of Bio-Techne from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $70.00 in a research report on Thursday, August 21st. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. TD Cowen upped their price target on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore ISI upped their price target on shares of Bio-Techne from $60.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada raised shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $70.58.

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.