Maridea Wealth Management LLC Takes $970,000 Position in Bio-Techne Corp $TECH

Maridea Wealth Management LLC bought a new position in Bio-Techne Corp (NASDAQ:TECH) during the third quarter, Holdings Channel reports. The fund bought 17,441 shares of the biotechnology company’s stock, valued at approximately $970,000.

Several other institutional investors also recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Bio-Techne by 109.7% during the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 237 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 248 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Bio-Techne by 506.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 562 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Bio-Techne in the 3rd quarter worth approximately $37,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Bio-Techne in the 3rd quarter worth approximately $37,000. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Up 1.4%

Shares of Bio-Techne stock opened at $59.33 on Thursday. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $72.16. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $63.21 and its 200 day moving average is $59.66. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 116.34, a price-to-earnings-growth ratio of 3.88 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $295.88 million during the quarter, compared to analyst estimates of $290.20 million. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Research analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, February 13th. Bio-Techne’s dividend payout ratio is currently 62.75%.

Analysts Set New Price Targets

TECH has been the subject of a number of recent research reports. Evercore lifted their price objective on Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Robert W. Baird set a $70.00 price target on Bio-Techne in a report on Thursday, February 5th. Benchmark reiterated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company lifted their target price on shares of Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.77.

Bio-Techne 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.