Thrivent Financial for Lutherans Buys 43,366 Shares of Bio-Techne Corp $TECH

Thrivent Financial for Lutherans boosted its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 19.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,186 shares of the biotechnology company’s stock after acquiring an additional 43,366 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Bio-Techne were worth $15,834,000 at the end of the most recent reporting period.

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

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $44.43 on Tuesday. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.16. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 64.39, a price-to-earnings-growth ratio of 3.37 and a beta of 1.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The company’s 50 day simple moving average is $52.76 and its 200 day simple moving average is $58.62.

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). The business had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. As a group, research analysts predict that Bio-Techne Corp will post 1.69 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, May 18th. Bio-Techne’s payout ratio is 46.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TECH shares. Evercore set a $50.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. Robert W. Baird set a $49.00 price objective on shares of Bio-Techne in a research report on Thursday, May 7th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Stifel Nicolaus set a $50.00 target price on Bio-Techne in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.92.

Bio-Techne Company 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.