SG Americas Securities LLC Has $8.04 Million Stock Holdings in Bio-Techne Corp $TECH

SG Americas Securities LLC lifted its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 1,275.2% during the 4th quarter, Holdings Channel reports. The firm owned 136,638 shares of the biotechnology company’s stock after purchasing an additional 126,702 shares during the quarter. SG Americas Securities LLC’s holdings in Bio-Techne were worth $8,036,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in Bio-Techne by 12.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock valued at $62,379,000 after buying an additional 113,634 shares during the period. Woodline Partners LP grew its position in shares of Bio-Techne by 40.0% during the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock worth $783,000 after buying an additional 3,814 shares during the period. Cetera Investment Advisers increased its stake in shares of Bio-Techne by 8.8% in the 2nd quarter. Cetera Investment Advisers now owns 16,716 shares of the biotechnology company’s stock valued at $860,000 after acquiring an additional 1,356 shares in the last quarter. Choreo LLC bought a new stake in shares of Bio-Techne in the 2nd quarter valued at $276,000. Finally, Capital Fund Management S.A. acquired a new position in shares of Bio-Techne during the 2nd quarter valued at $4,890,000. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $52.04 on Tuesday. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $72.16. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $58.92 and a 200-day moving average price of $59.77. The company has a market cap of $8.14 billion, a PE ratio of 102.04, a price-to-earnings-growth ratio of 3.35 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $295.88 million for the quarter, compared to analysts’ expectations of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.Bio-Techne’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Equities analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s payout ratio is currently 62.75%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TECH shares. Robert W. Baird set a $70.00 target price on shares of Bio-Techne in a research note on Thursday, February 5th. Wells Fargo & Company upped their price objective on shares of Bio-Techne from $70.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Weiss Ratings cut shares of Bio-Techne from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. UBS Group restated a “buy” rating and issued a $79.00 target price (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Bio-Techne in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.77.

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.