Neuberger Berman Group LLC Has $183.98 Million Stock Position in Bio-Techne Corp $TECH

Neuberger Berman Group LLC lifted its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 32.3% in the third quarter, HoldingsChannel reports. The fund owned 3,307,116 shares of the biotechnology company’s stock after buying an additional 807,147 shares during the period. Neuberger Berman Group LLC’s holdings in Bio-Techne were worth $183,975,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Bio-Techne by 109.7% in the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 237 shares during the last quarter. Allworth Financial LP increased its position in Bio-Techne by 68.1% in the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 248 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Bio-Techne by 506.3% during 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 during the last quarter. Sound Income Strategies LLC acquired a new position in Bio-Techne during the 3rd quarter valued at about $37,000. Finally, Federated Hermes Inc. acquired a new position in Bio-Techne during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $53.89 on Friday. The company has a fifty day moving average price of $62.87 and a 200 day moving average price of $59.98. The firm has a market cap of $8.43 billion, a PE ratio of 105.67, a PEG ratio of 3.71 and a beta of 1.48. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $72.16.

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

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s dividend payout ratio (DPR) is currently 62.75%.

Analyst Ratings Changes

Several equities research analysts have recently commented on TECH shares. Evercore lifted their price target on shares of Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Robert W. Baird set a $70.00 price objective on shares of Bio-Techne in a report on Thursday, February 5th. Citigroup reaffirmed a “buy” rating and issued a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a research note on Wednesday, February 4th. 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. Finally, TD Cowen reiterated a “buy” rating and set a $80.00 target price (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.