Bio-Techne Corp $TECH is Hollow Brook Wealth Management LLC’s 10th Largest Position

Hollow Brook Wealth Management LLC grew its position in Bio-Techne Corp (NASDAQ:TECH) by 69.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,677 shares of the biotechnology company’s stock after buying an additional 71,739 shares during the quarter. Bio-Techne makes up approximately 2.3% of Hollow Brook Wealth Management LLC’s portfolio, making the stock its 10th largest position. Hollow Brook Wealth Management LLC’s holdings in Bio-Techne were worth $9,717,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TECH. Blue Trust Inc. boosted its stake in Bio-Techne by 109.7% in the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 237 shares during the period. 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. iSAM Funds UK Ltd purchased a new stake in shares of Bio-Techne in the third quarter valued at $33,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Bio-Techne by 506.3% in the second 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 in the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Bio-Techne in the third quarter worth $37,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TECH has been the topic of a number of research analyst reports. Argus lifted their price target on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on Bio-Techne and gave the stock a “buy” rating in a research report on Friday, December 12th. Evercore lifted their target price on Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Wells Fargo & Company upped their target price on Bio-Techne from $70.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Finally, Stifel Nicolaus set a $65.00 price target on shares of Bio-Techne and gave the stock a “hold” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.77.

Bio-Techne Trading Down 1.2%

Shares of NASDAQ:TECH opened at $50.85 on Monday. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $7.96 billion, a PE ratio of 99.71, a P/E/G ratio of 3.38 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 firm has a fifty day moving average price of $62.23 and a 200 day moving average price of $59.94.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share 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 analyst estimates of $290.20 million. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. Analysts expect that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were paid a $0.08 dividend. 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 dividend payout ratio (DPR) 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.