Public Employees Retirement Association of Colorado Increases Stock Position in Bio-Techne Corp $TECH

Public Employees Retirement Association of Colorado lifted its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 139.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 507,232 shares of the biotechnology company’s stock after buying an additional 295,400 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Bio-Techne were worth $29,830,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Danske Bank A S purchased a new stake in shares of Bio-Techne during the 4th quarter valued at approximately $29,000. eCIO Inc. purchased a new stake in shares of Bio-Techne during the 4th quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Bio-Techne during the 3rd quarter valued at approximately $32,000. iSAM Funds UK Ltd purchased a new stake in Bio-Techne in the 3rd quarter worth approximately $33,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Bio-Techne in the 4th quarter worth approximately $39,000. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Stock Performance

Bio-Techne stock opened at $54.00 on Monday. The firm’s fifty day moving average price is $52.13 and its 200-day moving average price is $57.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. The stock has a market cap of $8.45 billion, a P/E ratio of 78.26, a price-to-earnings-growth ratio of 5.09 and a beta of 1.37. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.16.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. On average, equities research analysts expect that Bio-Techne Corp will post 1.7 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, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.08 per share. The ex-dividend date was Monday, May 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, March 17th. Evercore set a $50.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. Royal Bank Of Canada set a $62.00 target price on shares of Bio-Techne and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Finally, Stifel Nicolaus set a $50.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.15.

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.