Thrivent Financial for Lutherans Purchases 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% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 269,186 shares of the biotechnology company’s stock after purchasing an additional 43,366 shares during the period. Thrivent Financial for Lutherans owned about 0.17% of Bio-Techne worth $15,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in 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. bought a new stake in Bio-Techne during the 4th quarter worth approximately $30,000. Measured Wealth Private Client Group LLC bought a new stake in Bio-Techne during the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd acquired a new stake in Bio-Techne during the 3rd quarter valued at $33,000. Finally, Federated Hermes Inc. bought a new position in Bio-Techne in the 3rd quarter valued at $37,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TECH has been the topic of several research reports. Citigroup reduced their price target on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research report 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. UBS Group reaffirmed a “buy” rating and issued a $79.00 target price (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Royal Bank Of Canada set a $62.00 target price on shares of Bio-Techne and gave the stock an “outperform” rating in a research report on Thursday. Finally, TD Cowen reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus target price of $65.92.

Bio-Techne Trading Up 2.6%

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

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. On average, equities analysts expect that Bio-Techne Corp will post 1.69 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s dividend 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.