Tygh Capital Management Inc. Buys 12,105 Shares of BIO-TECHNE Corp (TECH)

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Tygh Capital Management Inc. boosted its stake in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 30.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,062 shares of the biotechnology company’s stock after acquiring an additional 12,105 shares during the quarter. BIO-TECHNE comprises 1.6% of Tygh Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Tygh Capital Management Inc. owned 0.14% of BIO-TECHNE worth $7,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in shares of BIO-TECHNE by 220.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 489 shares during the period. We Are One Seven LLC acquired a new stake in shares of BIO-TECHNE in the 4th quarter valued at approximately $121,000. ETF Managers Group LLC lifted its holdings in shares of BIO-TECHNE by 18.1% in the 4th quarter. ETF Managers Group LLC now owns 869 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 133 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of BIO-TECHNE in the 3rd quarter valued at approximately $192,000. Finally, Rossmore Private Capital acquired a new stake in shares of BIO-TECHNE in the 3rd quarter valued at approximately $204,000. 99.00% of the stock is owned by institutional investors.

NASDAQ TECH traded up $1.69 during mid-day trading on Tuesday, hitting $185.49. The stock had a trading volume of 2,892 shares, compared to its average volume of 273,043. BIO-TECHNE Corp has a 52-week low of $132.75 and a 52-week high of $206.04. The company has a market capitalization of $6.94 billion, a P/E ratio of 45.52, a PEG ratio of 4.15 and a beta of 1.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.35 and a quick ratio of 3.31.

BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, February 5th. The biotechnology company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.08. BIO-TECHNE had a return on equity of 13.90% and a net margin of 14.02%. The firm had revenue of $174.50 million during the quarter, compared to the consensus estimate of $171.39 million. During the same period last year, the business posted $1.02 EPS. BIO-TECHNE’s quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts expect that BIO-TECHNE Corp will post 3.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, February 14th. BIO-TECHNE’s payout ratio is currently 31.45%.

Several analysts have recently commented on TECH shares. BidaskClub raised BIO-TECHNE from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Zacks Investment Research downgraded BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. ValuEngine downgraded BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 11th. Finally, Goldman Sachs Group set a $165.00 price objective on BIO-TECHNE and gave the company a “hold” rating in a research note on Friday, November 30th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $188.13.

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BIO-TECHNE Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.

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Institutional Ownership by Quarter for BIO-TECHNE (NASDAQ:TECH)

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