Pembroke Management LTD Purchases 37,189 Shares of Bio-Techne Corp $TECH

Pembroke Management LTD lifted its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 10.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 376,977 shares of the biotechnology company’s stock after buying an additional 37,189 shares during the quarter. Bio-Techne makes up 2.1% of Pembroke Management LTD’s holdings, making the stock its 21st largest holding. Pembroke Management LTD’s holdings in Bio-Techne were worth $20,971,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TECH. Blue Trust Inc. lifted its position in shares of Bio-Techne by 109.7% in the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 237 shares in the last quarter. Allworth Financial LP raised its stake in Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 248 shares during the period. EverSource Wealth Advisors LLC raised its stake in Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares during the period. Sound Income Strategies LLC purchased a new position in Bio-Techne in the 3rd quarter worth approximately $37,000. Finally, First Horizon Advisors Inc. boosted its stake in Bio-Techne by 134.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 868 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 498 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Cowen reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, October 14th. Argus lifted their price target on shares of Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. UBS Group boosted their price target on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Zacks Research lowered Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft set a $72.00 target price on Bio-Techne and gave the stock a “buy” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus target price of $70.57.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $68.67 on Friday. The firm has a fifty day simple moving average of $61.46 and a two-hundred day simple moving average of $57.84. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $79.28. The company has a quick ratio of 2.81, a current ratio of 4.22 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $10.70 billion, a P/E ratio of 140.15, a PEG ratio of 4.82 and a beta of 1.47.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The firm had revenue of $286.56 million for the quarter, compared to analysts’ expectations of $292.02 million. During the same period in the prior year, the company earned $0.42 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. On average, analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, November 17th. Bio-Techne’s dividend payout ratio (DPR) is presently 65.31%.

Bio-Techne 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.