Public Employees Retirement Association of Colorado Purchases 295,400 Shares of Bio-Techne Corp $TECH

Public Employees Retirement Association of Colorado boosted its position in Bio-Techne Corp (NASDAQ:TECH) by 139.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 507,232 shares of the biotechnology company’s stock after purchasing an additional 295,400 shares during the period. Public Employees Retirement Association of Colorado owned about 0.32% of Bio-Techne worth $29,830,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Danske Bank A S bought a new stake in Bio-Techne in the 4th quarter worth about $29,000. eCIO Inc. bought a new stake in Bio-Techne in the 4th quarter worth about $30,000. Measured Wealth Private Client Group LLC bought a new stake in Bio-Techne in the 3rd quarter worth about $32,000. iSAM Funds UK Ltd bought a new position in shares of Bio-Techne during the 3rd quarter valued at approximately $33,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Bio-Techne during the 4th quarter valued at approximately $39,000. 98.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TECH. Evercore set a $50.00 target price on shares of Bio-Techne in a research report on Thursday, May 7th. TD Cowen reissued a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Piper Sandler began coverage on shares of Bio-Techne in a research report on Thursday. They set a “neutral” rating and a $65.00 target price for the company. Stifel Nicolaus set a $50.00 target price on shares of Bio-Techne in a research report on Thursday, May 7th. Finally, Robert W. Baird set a $49.00 target price on shares of Bio-Techne in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.15.

Bio-Techne Price Performance

Bio-Techne stock opened at $54.00 on Monday. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16. The firm has a 50 day moving average price of $52.13 and a 200-day moving average price of $57.35. The company has a market capitalization of $8.45 billion, a P/E ratio of 78.26, a P/E/G ratio of 5.09 and a beta of 1.37. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 earnings per share. As a group, equities analysts predict that Bio-Techne Corp will post 1.7 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a dividend of $0.08 per share. 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 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.