Xact Kapitalforvaltning AB Boosts Holdings in BIO-TECHNE Corp (TECH)
Xact Kapitalforvaltning AB raised its position in BIO-TECHNE Corp (NASDAQ:TECH) by 9.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,037 shares of the biotechnology company’s stock after purchasing an additional 500 shares during the period. Xact Kapitalforvaltning AB’s holdings in BIO-TECHNE were worth $874,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Strs Ohio grew its holdings in BIO-TECHNE by 4.1% in the fourth quarter. Strs Ohio now owns 2,896 shares of the biotechnology company’s stock valued at $419,000 after purchasing an additional 114 shares during the last quarter. Retirement Systems of Alabama grew its holdings in BIO-TECHNE by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 48,966 shares of the biotechnology company’s stock valued at $7,086,000 after purchasing an additional 206 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BIO-TECHNE by 10.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,609 shares of the biotechnology company’s stock valued at $378,000 after acquiring an additional 238 shares during the last quarter. Diversified Trust Co boosted its stake in shares of BIO-TECHNE by 22.1% during the fourth quarter. Diversified Trust Co now owns 1,673 shares of the biotechnology company’s stock valued at $242,000 after acquiring an additional 303 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of BIO-TECHNE by 1.2% during the fourth quarter. Arizona State Retirement System now owns 27,106 shares of the biotechnology company’s stock valued at $3,923,000 after acquiring an additional 315 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors.
A number of analysts recently commented on TECH shares. BidaskClub raised BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Zacks Investment Research lowered BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. ValuEngine lowered BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 11th. Finally, Goldman Sachs Group set a $165.00 price objective on BIO-TECHNE and gave the company a “hold” rating in a research note on Friday, November 30th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $188.13.
BIO-TECHNE (NASDAQ:TECH) last released its earnings results on Tuesday, February 5th. The biotechnology company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. BIO-TECHNE had a return on equity of 13.90% and a net margin of 14.02%. The firm had revenue of $174.50 million for the quarter, compared to the consensus estimate of $171.39 million. During the same period in the prior year, the business posted $1.02 earnings per share. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities analysts predict that BIO-TECHNE Corp will post 3.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be issued a $0.32 dividend. The ex-dividend date is Thursday, February 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.70%. BIO-TECHNE’s dividend payout ratio (DPR) is 31.45%.
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BIO-TECHNE Company Profile
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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