Jefferies Financial Group Inc. Has $3.27 Million Stake in Bio-Techne Corp $TECH

Jefferies Financial Group Inc. boosted its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 27.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,666 shares of the biotechnology company’s stock after buying an additional 12,013 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Bio-Techne were worth $3,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TECH. Wellington Management Group LLP grew its position in shares of Bio-Techne by 349.8% in the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after purchasing an additional 3,978,026 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Bio-Techne by 164.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock valued at $235,994,000 after purchasing an additional 2,495,328 shares during the last quarter. Durable Capital Partners LP acquired a new stake in shares of Bio-Techne in the third quarter valued at about $77,658,000. American Century Companies Inc. grew its position in shares of Bio-Techne by 78.3% in the third quarter. American Century Companies Inc. now owns 2,037,806 shares of the biotechnology company’s stock valued at $113,363,000 after purchasing an additional 894,987 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Bio-Techne by 32.3% in the third quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock valued at $183,975,000 after purchasing an additional 807,147 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Down 0.5%

Shares of TECH opened at $47.97 on Wednesday. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 69.52, a P/E/G ratio of 3.75 and a beta of 1.41. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16. The company has a 50-day moving average price of $52.08 and a two-hundred day moving average price of $58.03.

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

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, May 18th. Bio-Techne’s payout ratio is 46.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TECH shares. Wells Fargo & Company lowered their price target on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Evercore set a $50.00 price target on Bio-Techne in a research report on Thursday, May 7th. UBS Group reissued a “buy” rating and set a $79.00 target price (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. Finally, Benchmark reissued a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.92.

Bio-Techne 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.