Cresset Asset Management LLC Increases Position in Bio-Techne Corp $TECH

Cresset Asset Management LLC boosted its position in Bio-Techne Corp (NASDAQ:TECH) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 668,117 shares of the biotechnology company’s stock after acquiring an additional 28,344 shares during the quarter. Cresset Asset Management LLC owned 0.43% of Bio-Techne worth $37,167,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Caprock Group LLC bought a new stake in Bio-Techne during the 3rd quarter valued at about $1,710,000. Segall Bryant & Hamill LLC grew its holdings in shares of Bio-Techne by 9.5% during the second quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock valued at $29,100,000 after buying an additional 48,838 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of Bio-Techne by 8.0% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock valued at $26,386,000 after acquiring an additional 35,165 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Bio-Techne by 2.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock worth $79,873,000 after acquiring an additional 41,180 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Bio-Techne by 27.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock valued at $11,529,000 after acquiring an additional 47,555 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Stifel Nicolaus set a $65.00 target price on Bio-Techne and gave the stock a “hold” rating in a report on Thursday, February 5th. Evercore boosted their target price on Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Weiss Ratings upgraded shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 20th. Argus lifted their price target on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Finally, Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne Stock Down 1.4%

TECH opened at $56.99 on Wednesday. The firm’s 50 day simple moving average is $63.05 and its two-hundred day simple moving average is $60.02. The company has a market capitalization of $8.92 billion, a PE ratio of 111.75, a PEG ratio of 3.84 and a beta of 1.48. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $72.16. 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 (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $295.88 million during the quarter, compared to analyst estimates of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.Bio-Techne’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. As a group, equities analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s payout ratio is presently 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.