Principal Financial Group Inc. Buys 59 Shares of BIO-TECHNE Corp (TECH)
Principal Financial Group Inc. grew its stake in BIO-TECHNE Corp (NASDAQ:TECH) by 0.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,943 shares of the biotechnology company’s stock after acquiring an additional 59 shares during the quarter. Principal Financial Group Inc. owned about 0.44% of BIO-TECHNE worth $24,160,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Macquarie Group Ltd. lifted its position in shares of BIO-TECHNE by 2.5% in the third quarter. Macquarie Group Ltd. now owns 179,674 shares of the biotechnology company’s stock valued at $36,673,000 after acquiring an additional 4,398 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of BIO-TECHNE in the third quarter valued at $2,883,000. FMR LLC purchased a new stake in shares of BIO-TECHNE in the third quarter valued at $225,000. Quantamental Technologies LLC purchased a new stake in shares of BIO-TECHNE in the fourth quarter valued at $217,000. Finally, Hsbc Holdings PLC lifted its position in shares of BIO-TECHNE by 3,180.3% in the fourth quarter. Hsbc Holdings PLC now owns 77,416 shares of the biotechnology company’s stock valued at $11,204,000 after acquiring an additional 75,056 shares in the last quarter. Institutional investors and hedge funds own 94.07% of the company’s stock.
TECH has been the topic of several recent analyst reports. Zacks Investment Research upgraded BIO-TECHNE from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Goldman Sachs Group set a $165.00 target price on BIO-TECHNE and gave the stock a “hold” rating in a research report on Friday, November 30th. ValuEngine downgraded BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 11th. BidaskClub downgraded BIO-TECHNE from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Finally, Stephens upgraded BIO-TECHNE from an “equal weight” rating to an “overweight” rating and set a $180.00 target price on the stock in a research report on Monday, January 14th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. BIO-TECHNE presently has an average rating of “Buy” and a consensus target price of $188.13.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, February 5th. The biotechnology company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. The company had revenue of $174.50 million for the quarter, compared to the consensus estimate of $171.39 million. BIO-TECHNE had a return on equity of 13.90% and a net margin of 14.02%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business posted $1.02 EPS. On average, equities analysts forecast that BIO-TECHNE Corp will post 3.68 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.66%. BIO-TECHNE’s dividend payout ratio (DPR) is 31.45%.
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Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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