Mairs & Power Inc. Has $156.18 Million Stock Position in Bio-Techne Corp $TECH

Mairs & Power Inc. lifted its stake in Bio-Techne Corp (NASDAQ:TECH) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,807,409 shares of the biotechnology company’s stock after purchasing an additional 91,031 shares during the period. Bio-Techne accounts for approximately 1.5% of Mairs & Power Inc.’s holdings, making the stock its 24th largest holding. Mairs & Power Inc. owned about 1.80% of Bio-Techne worth $156,176,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TECH. Blue Trust Inc. boosted its holdings 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 buying an additional 237 shares during the last quarter. Allworth Financial LP increased its stake in shares of Bio-Techne by 68.1% in the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 248 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Bio-Techne in the 3rd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC raised 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 valued at $35,000 after acquiring an additional 562 shares during the period. Finally, Sound Income Strategies LLC bought a new position in Bio-Techne during the 3rd quarter worth approximately $37,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TECH. Citigroup restated a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. Robert W. Baird set a $70.00 price target on shares of Bio-Techne in a report on Thursday, February 5th. Benchmark restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. Finally, Argus raised their price objective on Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $72.77.

Bio-Techne Stock Performance

Shares of TECH stock opened at $48.81 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $72.16. The company’s 50 day moving average price is $61.95 and its two-hundred day moving average price is $59.90. The company has a market capitalization of $7.64 billion, a P/E ratio of 95.71, a price-to-earnings-growth ratio of 3.38 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last released its quarterly 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. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The company had revenue of $295.88 million during the quarter, compared to analysts’ expectations of $290.20 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, February 13th. Bio-Techne’s dividend payout ratio is 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.