Foundry Partners LLC Invests $208,000 in Bio-Techne Co. (NASDAQ:TECH)

Foundry Partners LLC acquired a new stake in Bio-Techne Co. (NASDAQ:TECH) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,694 shares of the biotechnology company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TECH. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bio-Techne during the third quarter worth $27,000. CVA Family Office LLC purchased a new stake in Bio-Techne in the fourth quarter valued at $31,000. Federated Hermes Inc. acquired a new position in shares of Bio-Techne in the 3rd quarter valued at $47,000. Clear Street Markets LLC grew its holdings in shares of Bio-Techne by 255.8% during the 3rd quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 527 shares during the period. Finally, Lindbrook Capital LLC increased its position in shares of Bio-Techne by 23.8% during the 4th quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research report on Friday, February 2nd. Stephens cut their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Royal Bank of Canada decreased their price target on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Scotiabank initiated coverage on shares of Bio-Techne in a research report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.90.

Insiders Place Their Bets

In other news, Director Roeland Nusse sold 10,400 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Bio-Techne Stock Up 1.4 %

TECH opened at $63.69 on Wednesday. The stock has a market capitalization of $10.01 billion, a P/E ratio of 46.15, a price-to-earnings-growth ratio of 7.81 and a beta of 1.22. Bio-Techne Co. has a one year low of $51.79 and a one year high of $89.91. The business’s 50-day simple moving average is $70.35 and its 200-day simple moving average is $68.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.03 and a current ratio of 4.37.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. The firm had revenue of $272.60 million for the quarter, compared to analyst estimates of $277.48 million. Analysts anticipate that Bio-Techne Co. will post 1.52 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Friday, February 9th. Bio-Techne’s dividend payout ratio is 23.19%.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.