Bio-Techne Corp $TECH Shares Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC lifted its stake in Bio-Techne Corp (NASDAQ:TECH) by 75.9% in the third quarter, HoldingsChannel reports. The fund owned 1,709,662 shares of the biotechnology company’s stock after purchasing an additional 737,577 shares during the quarter. William Blair Investment Management LLC’s holdings in Bio-Techne were worth $95,108,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Champlain Investment Partners LLC lifted its position in Bio-Techne by 8.9% in the second quarter. Champlain Investment Partners LLC now owns 2,665,684 shares of the biotechnology company’s stock worth $137,149,000 after purchasing an additional 217,362 shares during the period. Mackenzie Financial Corp raised its stake in shares of Bio-Techne by 2.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,619,101 shares of the biotechnology company’s stock worth $134,753,000 after buying an additional 72,822 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Bio-Techne by 0.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,355,618 shares of the biotechnology company’s stock valued at $131,043,000 after buying an additional 5,906 shares during the period. American Century Companies Inc. boosted its stake in Bio-Techne by 78.3% during the third quarter. American Century Companies Inc. now owns 2,037,806 shares of the biotechnology company’s stock valued at $113,363,000 after buying an additional 894,987 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Bio-Techne by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,930,042 shares of the biotechnology company’s stock valued at $107,368,000 after acquiring an additional 6,950 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Weiss Ratings upgraded shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 20th. UBS Group reissued a “buy” rating and set a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Argus boosted their target price on Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $72.00 price target on Bio-Techne and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Benchmark reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.77.

Bio-Techne Stock Performance

Shares of TECH stock opened at $59.00 on Friday. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 115.69, a P/E/G ratio of 3.92 and a beta of 1.48. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $72.16. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $63.12 and its 200-day simple moving average is $59.93.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $295.88 million for the quarter, compared to analysts’ expectations of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. On average, sell-side analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, February 13th. Bio-Techne’s dividend payout ratio is currently 62.75%.

About Bio-Techne

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.