Goldman Sachs Group Inc. Purchases 156,704 Shares of Bio-Techne Corp $TECH

Goldman Sachs Group Inc. grew its position in Bio-Techne Corp (NASDAQ:TECH) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,692,842 shares of the biotechnology company’s stock after purchasing an additional 156,704 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Bio-Techne were worth $99,556,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TECH. Danske Bank A S bought a new position in shares of Bio-Techne in the fourth quarter valued at approximately $29,000. eCIO Inc. acquired a new stake in shares of Bio-Techne in the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Bio-Techne in the third quarter worth $32,000. iSAM Funds UK Ltd acquired a new stake in shares of Bio-Techne in the third quarter worth $33,000. Finally, EverSource Wealth Advisors LLC grew its stake 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 worth $35,000 after acquiring an additional 562 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TECH has been the topic of several research analyst reports. Robert W. Baird set a $49.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Evercore set a $50.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. Royal Bank Of Canada set a $62.00 price objective on shares of Bio-Techne and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Finally, Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.17.

Bio-Techne Stock Up 3.3%

Shares of NASDAQ:TECH opened at $54.41 on Wednesday. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. The company’s fifty day moving average is $52.08 and its 200-day moving average is $57.51. The company has a market capitalization of $8.52 billion, a PE ratio of 78.86, a P/E/G ratio of 5.03 and a beta of 1.37.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 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 quarter in the prior year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research 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 was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, May 18th. Bio-Techne’s payout ratio is currently 46.38%.

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.