17,441 Shares in Bio-Techne Corp $TECH Acquired by Maridea Wealth Management LLC

Maridea Wealth Management LLC bought a new position in Bio-Techne Corp (NASDAQ:TECH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,441 shares of the biotechnology company’s stock, valued at approximately $970,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in Bio-Techne by 109.7% in the third 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 grew its position in Bio-Techne by 68.1% in 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. EverSource Wealth Advisors LLC raised its holdings in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after buying an additional 562 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of Bio-Techne in the third quarter valued at $37,000. Finally, Federated Hermes Inc. acquired a new position in shares of Bio-Techne during the third quarter valued at about $37,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Robert W. Baird set a $70.00 price objective on Bio-Techne in a research note on Thursday, February 5th. Stifel Nicolaus set a $65.00 target price on shares of Bio-Techne and gave the company a “hold” rating in a report on Thursday, February 5th. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. TD Cowen reissued a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Finally, UBS Group restated a “buy” rating and set a $79.00 price target (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and an average price target of $72.77.

Bio-Techne Price Performance

TECH opened at $59.33 on Thursday. 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 $9.28 billion, a P/E ratio of 116.34, a PEG ratio of 3.88 and a beta of 1.48. The stock has a 50-day moving average price of $63.21 and a 200-day moving average price of $59.66. Bio-Techne Corp has a 12-month low of $46.01 and a 12-month high of $72.16.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.42 EPS. Equities analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 16th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio is 62.75%.

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.