SBI Okasan Asset Management Co.Ltd. Acquires New Position in Bio-Techne Corp $TECH

SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 15,000 shares of the biotechnology company’s stock, valued at approximately $889,000.

Other large investors also recently bought and sold shares of the company. Danske Bank A S purchased a new stake in Bio-Techne during the 4th quarter valued at about $29,000. eCIO Inc. acquired a new position in shares of Bio-Techne in the 4th quarter worth approximately $30,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne in the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd acquired a new position in shares of Bio-Techne in the 3rd quarter worth approximately $33,000. Finally, Federated Hermes Inc. acquired a new position in shares of Bio-Techne in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TECH shares. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Citigroup reduced their target price on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. UBS Group reiterated a “buy” rating and set a $79.00 target price (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Royal Bank Of Canada set a $62.00 target price on shares of Bio-Techne and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, Benchmark reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.92.

Bio-Techne Price Performance

Shares of TECH opened at $51.68 on Friday. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16. The firm’s fifty day simple moving average is $52.08 and its 200-day simple moving average is $57.87. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 74.90, a PEG ratio of 3.96 and a beta of 1.41. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business posted $0.56 earnings per share. Bio-Techne’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts forecast that Bio-Techne Corp will post 1.69 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued 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 was Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is presently 46.38%.

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.