OneDigital Investment Advisors LLC Acquires New Shares in Bio-Techne Corp $TECH

OneDigital Investment Advisors LLC bought a new position in Bio-Techne Corp (NASDAQ:TECH) in the third quarter, HoldingsChannel reports. The fund bought 103,393 shares of the biotechnology company’s stock, valued at approximately $5,752,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Caprock Group LLC purchased a new stake in Bio-Techne in the third quarter worth approximately $1,710,000. Segall Bryant & Hamill LLC raised its stake in Bio-Techne by 9.5% during the 2nd 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 lifted its holdings in shares of Bio-Techne by 8.0% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock valued at $26,386,000 after buying an additional 35,165 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 41,180 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Bio-Techne by 27.0% in the second quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock worth $11,529,000 after acquiring an additional 47,555 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

NASDAQ TECH opened at $57.52 on Monday. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $72.16. The business has a 50-day moving average price of $63.15 and a 200-day moving average price of $59.77. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 112.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last issued 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. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The company had revenue of $295.88 million for the quarter, compared to the consensus estimate of $290.20 million. During the same quarter last year, the company earned $0.42 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts predict that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 16th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, February 13th. Bio-Techne’s payout ratio is 62.75%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TECH. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. TD Cowen reaffirmed a “buy” rating and set a $80.00 price target (up previously from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. UBS Group reissued a “buy” rating and issued a $79.00 price objective (up previously from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Finally, Wells Fargo & Company upped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne Company 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.