PBU The Pension Fund of Early Childhood & Youth Educators Takes Position in Bio-Techne Corp $TECH

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 379,367 shares of the biotechnology company’s stock, valued at approximately $22,311,000. Bio-Techne comprises approximately 0.8% of PBU The Pension Fund of Early Childhood & Youth Educators’ portfolio, making the stock its 19th biggest holding. PBU The Pension Fund of Early Childhood & Youth Educators owned about 0.24% of Bio-Techne at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its position in Bio-Techne by 349.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock worth $284,555,000 after purchasing an additional 3,978,026 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Bio-Techne by 164.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock worth $235,994,000 after purchasing an additional 2,495,328 shares in the last quarter. Invesco Ltd. increased its position in Bio-Techne by 7.7% during the 3rd quarter. Invesco Ltd. now owns 3,946,028 shares of the biotechnology company’s stock worth $219,518,000 after purchasing an additional 283,303 shares in the last quarter. Neuberger Berman Group LLC increased its position in Bio-Techne by 32.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock worth $183,975,000 after purchasing an additional 807,147 shares in the last quarter. Finally, Mairs & Power Inc. increased its position in Bio-Techne by 3.4% during the 3rd quarter. Mairs & Power Inc. now owns 2,807,409 shares of the biotechnology company’s stock worth $156,176,000 after purchasing an additional 91,031 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Down 2.2%

Shares of NASDAQ:TECH opened at $51.99 on Friday. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.16. The company has a 50 day moving average of $52.01 and a two-hundred day moving average of $57.58. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 75.35, a price-to-earnings-growth ratio of 5.08 and a beta of 1.37.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. During the same period last year, the business earned $0.56 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. As a group, analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.6%. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TECH. Evercore set a $50.00 target price on shares of Bio-Techne in a research report on Thursday, May 7th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Robert W. Baird set a $49.00 target price on shares of Bio-Techne in a research report on Thursday, May 7th. Finally, Wells Fargo & Company dropped their target price on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus target price of $65.17.

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.