Bio-Techne Corp $TECH Stock Holdings Increased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lifted its stake in Bio-Techne Corp (NASDAQ:TECH) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,692,842 shares of the biotechnology company’s stock after purchasing an additional 156,704 shares during the quarter. Goldman Sachs Group Inc. owned 1.08% of Bio-Techne worth $99,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Danske Bank A S purchased a new stake in shares of Bio-Techne in the fourth quarter worth approximately $29,000. eCIO Inc. purchased a new stake in shares of Bio-Techne in the fourth quarter worth approximately $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Bio-Techne in the third quarter worth approximately $32,000. iSAM Funds UK Ltd purchased a new stake in shares of Bio-Techne in the third quarter worth approximately $33,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Bio-Techne in the third quarter worth approximately $37,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada set a $62.00 price objective on shares of Bio-Techne and gave the company an “outperform” rating in a research report on Thursday, May 14th. Wells Fargo & Company cut their price objective on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” 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. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Citigroup cut their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus price target of $65.17.

Bio-Techne Price Performance

Shares of TECH opened at $54.41 on Wednesday. The firm has a market cap of $8.52 billion, a PE ratio of 78.86, a PEG ratio of 5.03 and a beta of 1.37. The firm’s 50 day moving average price is $52.08 and its 200 day moving average price is $57.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. During the same period in the previous year, the business posted $0.56 EPS. Bio-Techne’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts expect that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio (DPR) 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.