Midwest Financial Partners Investments Inc. Invests $2.35 Million in Bio-Techne Corp $TECH

Midwest Financial Partners Investments Inc. purchased a new position in shares of Bio-Techne Corp (NASDAQ:TECH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 39,947 shares of the biotechnology company’s stock, valued at approximately $2,349,000. Bio-Techne accounts for about 1.3% of Midwest Financial Partners Investments Inc.’s portfolio, making the stock its 17th largest holding.

Other institutional investors have also modified their holdings of the company. Nano Cap New Millennium Growth Fund L P acquired a new position in Bio-Techne in the fourth quarter valued at approximately $382,000. Global Retirement Partners LLC lifted its holdings in Bio-Techne by 141.3% in the fourth quarter. Global Retirement Partners LLC now owns 2,005 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 1,174 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Bio-Techne by 4.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 92,166 shares of the biotechnology company’s stock valued at $5,420,000 after acquiring an additional 4,041 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Bio-Techne by 68.0% in the fourth quarter. Handelsbanken Fonder AB now owns 71,137 shares of the biotechnology company’s stock valued at $4,184,000 after acquiring an additional 28,789 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Bio-Techne by 6.2% in the fourth quarter. ProShare Advisors LLC now owns 30,649 shares of the biotechnology company’s stock valued at $1,802,000 after acquiring an additional 1,789 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of TECH opened at $47.37 on Friday. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.16. The firm’s 50 day moving average price is $52.32 and its 200 day moving average price is $58.30. The company has a market cap of $7.42 billion, a P/E ratio of 68.65, a PEG ratio of 3.63 and a beta of 1.41. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. Bio-Techne’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. On average, research analysts forecast that Bio-Techne Corp will post 1.69 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. Bio-Techne’s dividend payout ratio (DPR) is currently 46.38%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Evercore set a $50.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. Stifel Nicolaus set a $50.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. Wells Fargo & Company lowered their target price on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.92.

Bio-Techne Company 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.