Snyder Capital Management L P Buys 384,694 Shares of Bio-Techne Corp $TECH

Snyder Capital Management L P raised its stake in Bio-Techne Corp (NASDAQ:TECH) by 28.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,719,135 shares of the biotechnology company’s stock after acquiring an additional 384,694 shares during the period. Bio-Techne comprises about 1.8% of Snyder Capital Management L P’s investment portfolio, making the stock its 16th largest position. Snyder Capital Management L P’s holdings in Bio-Techne were worth $95,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Alpha LLC bought a new stake in shares of Bio-Techne in the 3rd quarter worth about $229,000. Dimensional Fund Advisors LP boosted its position in Bio-Techne by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,710,513 shares of the biotechnology company’s stock valued at $95,129,000 after buying an additional 49,172 shares in the last quarter. Cresset Asset Management LLC grew its stake in Bio-Techne by 4.4% during the third quarter. Cresset Asset Management LLC now owns 668,117 shares of the biotechnology company’s stock worth $37,167,000 after buying an additional 28,344 shares during the last quarter. Elo Mutual Pension Insurance Co increased its holdings in shares of Bio-Techne by 3.0% during the third quarter. Elo Mutual Pension Insurance Co now owns 16,537 shares of the biotechnology company’s stock worth $920,000 after buying an additional 489 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Bio-Techne by 75.9% in the third quarter. William Blair Investment Management LLC now owns 1,709,662 shares of the biotechnology company’s stock valued at $95,108,000 after acquiring an additional 737,577 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TECH shares. Robert W. Baird set a $70.00 price target on Bio-Techne in a report on Thursday, February 5th. Benchmark restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on shares of Bio-Techne and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.77.

Bio-Techne Trading Up 1.5%

TECH opened at $57.85 on Thursday. The firm has a 50 day simple moving average of $63.04 and a 200 day simple moving average of $60.01. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $72.16. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 113.43, a price-to-earnings-growth ratio of 3.78 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 3.08.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $295.88 million during the quarter, compared to analyst estimates of $290.20 million. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. On average, sell-side analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne’s dividend payout ratio is currently 62.75%.

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.