Cramer Rosenthal Mcglynn LLC Grows Stock Position in Bio-Techne Corp $TECH

Cramer Rosenthal Mcglynn LLC boosted its holdings in Bio-Techne Corp (NASDAQ:TECH) by 7.1% during the third quarter, Holdings Channel reports. The institutional investor owned 559,189 shares of the biotechnology company’s stock after buying an additional 37,200 shares during the period. Bio-Techne makes up 1.9% of Cramer Rosenthal Mcglynn LLC’s portfolio, making the stock its 13th biggest holding. Cramer Rosenthal Mcglynn LLC’s holdings in Bio-Techne were worth $31,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caprock Group LLC purchased a new position in Bio-Techne during the third quarter worth approximately $1,710,000. Segall Bryant & Hamill LLC increased its holdings in shares of Bio-Techne by 9.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock worth $29,100,000 after buying an additional 48,838 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of Bio-Techne by 8.0% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock worth $26,386,000 after buying an additional 35,165 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Bio-Techne by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after acquiring an additional 41,180 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Bio-Techne by 27.0% during the second quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock valued at $11,529,000 after acquiring an additional 47,555 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Trading Down 3.4%

TECH opened at $55.89 on Friday. The firm’s 50 day moving average is $62.98 and its 200-day moving average is $59.98. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $72.16. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $8.74 billion, a P/E ratio of 109.59, a P/E/G ratio of 3.84 and a beta of 1.48.

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

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s payout ratio is presently 62.75%.

Analyst Ratings Changes

TECH has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on Bio-Techne and gave the stock a “buy” rating in a report on Friday, December 12th. Citigroup restated a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. UBS Group reiterated a “buy” rating and set a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Benchmark reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. Finally, Robert W. Baird set a $70.00 target price on shares of Bio-Techne in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.77.

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.