23,748 Shares in Bio-Techne Co. (NASDAQ:TECH) Purchased by FORA Capital LLC

FORA Capital LLC bought a new position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,748 shares of the biotechnology company's stock, valued at approximately $1,672,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Bio-Techne in the fourth quarter valued at about $119,771,000. Brown Advisory Inc. raised its holdings in shares of Bio-Techne by 1,094.6% in the fourth quarter. Brown Advisory Inc. now owns 809,635 shares of the biotechnology company's stock valued at $62,471,000 after acquiring an additional 741,860 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Bio-Techne by 1,389.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 784,543 shares of the biotechnology company's stock valued at $60,535,000 after acquiring an additional 731,869 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Bio-Techne by 4,482.1% in the fourth quarter. Corient Private Wealth LLC now owns 633,790 shares of the biotechnology company's stock valued at $48,903,000 after acquiring an additional 619,958 shares in the last quarter. Finally, Brown Capital Management LLC raised its holdings in shares of Bio-Techne by 12.4% in the fourth quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company's stock valued at $273,994,000 after acquiring an additional 392,986 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TECH. Robert W. Baird lifted their price objective on Bio-Techne from $73.00 to $81.00 and gave the company an "outperform" rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Bio-Techne from $85.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, April 18th. Citigroup lowered Bio-Techne from a "buy" rating to a "neutral" rating and set a $85.00 target price on the stock. in a research note on Wednesday, May 22nd. Finally, Benchmark reiterated a "buy" rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $81.00.

Bio-Techne Stock Down 0.4 %

Shares of TECH stock traded down $0.27 during trading hours on Tuesday, reaching $71.29. 727,405 shares of the company's stock were exchanged, compared to its average volume of 1,089,272. Bio-Techne Co. has a 1 year low of $51.79 and a 1 year high of $89.91. The stock has a market cap of $11.23 billion, a PE ratio of 56.58, a PEG ratio of 7.41 and a beta of 1.29. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. The stock's fifty day moving average price is $76.93 and its two-hundred day moving average price is $72.80.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. The business had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The company's revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Research analysts predict that Bio-Techne Co. will post 1.56 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Bio-Techne's dividend payout ratio is currently 25.40%.

Bio-Techne Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.