Transamerica Financial Advisors Inc. increased its position in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 13.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,300 shares of the biotechnology company’s stock after acquiring an additional 270 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in BIO-TECHNE were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in TECH. We Are One Seven LLC acquired a new position in shares of BIO-TECHNE during the 4th quarter valued at about $121,000. ETF Managers Group LLC boosted its position in shares of BIO-TECHNE by 18.1% during the 4th quarter. ETF Managers Group LLC now owns 869 shares of the biotechnology company’s stock valued at $126,000 after acquiring an additional 133 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of BIO-TECHNE by 220.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 489 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in BIO-TECHNE in the third quarter valued at about $192,000. Finally, Rossmore Private Capital acquired a new position in BIO-TECHNE in the third quarter valued at about $204,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.
TECH has been the topic of a number of recent analyst reports. Goldman Sachs Group initiated coverage on shares of BIO-TECHNE in a research report on Wednesday, October 17th. They issued a “neutral” rating and a $190.00 target price on the stock. BidaskClub cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Craig Hallum cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating and decreased their target price for the company from $215.00 to $154.00 in a research report on Wednesday, October 31st. Zacks Investment Research cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Finally, ValuEngine cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 11th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $188.13.
BIO-TECHNE (NASDAQ:TECH) last posted its earnings results on Tuesday, February 5th. The biotechnology company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. BIO-TECHNE had a net margin of 14.02% and a return on equity of 13.90%. The company had revenue of $174.50 million for the quarter, compared to analysts’ expectations of $171.39 million. During the same quarter in the prior year, the company posted $1.02 earnings per share. BIO-TECHNE’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, analysts anticipate that BIO-TECHNE Corp will post 3.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.69%. BIO-TECHNE’s dividend payout ratio is presently 31.45%.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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