Northwestern Mutual Wealth Management Co. Has $1.68 Million Holdings in Bio-Techne Corp $TECH

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 1,710.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,518 shares of the biotechnology company’s stock after purchasing an additional 26,943 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bio-Techne were worth $1,677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Impax Asset Management Group plc acquired a new stake in Bio-Techne during the 4th quarter worth about $11,468,000. Caprock Group LLC acquired a new stake in Bio-Techne during the 3rd quarter worth about $1,710,000. Hollow Brook Wealth Management LLC raised its holdings in Bio-Techne by 69.7% during the 3rd quarter. Hollow Brook Wealth Management LLC now owns 174,677 shares of the biotechnology company’s stock worth $9,717,000 after buying an additional 71,739 shares during the period. Madison Asset Management LLC acquired a new stake in Bio-Techne during the 3rd quarter worth about $41,425,000. Finally, Cramer Rosenthal Mcglynn LLC raised its holdings in Bio-Techne by 7.1% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 559,189 shares of the biotechnology company’s stock worth $31,108,000 after buying an additional 37,200 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings upgraded Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Royal Bank Of Canada set a $62.00 price objective on Bio-Techne and gave the stock an “outperform” rating in a report on Thursday, May 14th. UBS Group restated a “buy” rating and set a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Finally, Citigroup dropped their target price on Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Bio-Techne currently has a consensus rating of “Moderate Buy” and an average target price of $65.92.

Bio-Techne Stock Up 0.3%

Shares of Bio-Techne stock opened at $48.09 on Thursday. The stock has a market capitalization of $7.53 billion, a P/E ratio of 69.70, a PEG ratio of 3.73 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. The stock has a 50 day moving average price of $52.07 and a two-hundred day moving average price of $57.96. Bio-Techne Corp has a 12-month low of $43.19 and a 12-month high of $72.16.

Bio-Techne (NASDAQ:TECH) last announced its 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 for the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 EPS. Equities analysts expect that Bio-Techne Corp will post 1.69 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be given a dividend of $0.08 per share. 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 is presently 46.38%.

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.