Mercer Global Advisors Inc. ADV boosted its holdings in Bio-Techne Co. (NASDAQ:TECH – Get Rating) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,669 shares of the biotechnology company’s stock after acquiring an additional 182 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Bio-Techne were worth $1,898,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in Bio-Techne by 651.9% during the third quarter. First Horizon Advisors Inc. now owns 391 shares of the biotechnology company’s stock worth $27,000 after buying an additional 339 shares in the last quarter. Ten Capital Wealth Advisors LLC purchased a new position in shares of Bio-Techne during the 4th quarter worth $61,000. Concord Wealth Partners lifted its stake in shares of Bio-Techne by 605.0% during the 4th quarter. Concord Wealth Partners now owns 141 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 121 shares during the period. Tobam lifted its stake in shares of Bio-Techne by 121.7% during the 3rd quarter. Tobam now owns 153 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 84 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Bio-Techne by 20.8% during the 4th quarter. IFP Advisors Inc now owns 157 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 27 shares during the period. Institutional investors own 92.84% of the company’s stock.
Several equities research analysts recently issued reports on TECH shares. SVB Leerink raised their target price on shares of Bio-Techne from $530.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 2nd. StockNews.com began coverage on shares of Bio-Techne in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Zacks Investment Research raised Bio-Techne from a “hold” rating to a “buy” rating and set a $484.00 target price on the stock in a research report on Wednesday, April 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Bio-Techne presently has a consensus rating of “Buy” and an average price target of $537.40.
Bio-Techne (NASDAQ:TECH – Get Rating) last released its earnings results on Tuesday, February 1st. The biotechnology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.01. Bio-Techne had a net margin of 20.45% and a return on equity of 16.35%. The business had revenue of $269.30 million for the quarter, compared to the consensus estimate of $266.57 million. During the same period last year, the firm posted $1.26 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities research analysts forecast that Bio-Techne Co. will post 6.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 25th. Investors of record on Friday, February 11th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, February 10th. This represents a $1.28 annualized dividend and a yield of 0.31%. Bio-Techne’s payout ratio is 25.00%.
Bio-Techne 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.
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