4,970 Shares in Bio-Techne Co. (NASDAQ:TECH) Bought by Modus Advisors LLC

Modus Advisors LLC purchased a new position in Bio-Techne Co. (NASDAQ:TECH) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,970 shares of the biotechnology company’s stock, valued at approximately $350,000.

Other large investors have also modified their holdings of the company. Brown Capital Management LLC boosted its position in Bio-Techne by 12.4% during the 4th quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock worth $273,994,000 after acquiring an additional 392,986 shares during the period. Morgan Stanley lifted its stake in shares of Bio-Techne by 4.5% in the 3rd quarter. Morgan Stanley now owns 3,305,826 shares of the biotechnology company’s stock worth $225,028,000 after acquiring an additional 143,716 shares during the period. Mairs & Power Inc. boosted its holdings in shares of Bio-Techne by 0.8% in the fourth quarter. Mairs & Power Inc. now owns 3,079,483 shares of the biotechnology company’s stock valued at $237,613,000 after acquiring an additional 25,903 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Bio-Techne by 3.0% during the fourth quarter. Mackenzie Financial Corp now owns 2,399,327 shares of the biotechnology company’s stock valued at $185,132,000 after acquiring an additional 70,294 shares during the period. Finally, Invesco Ltd. raised its holdings in Bio-Techne by 14.8% during the third quarter. Invesco Ltd. now owns 1,880,812 shares of the biotechnology company’s stock worth $128,027,000 after purchasing an additional 241,771 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.4 %

TECH traded down $0.27 during trading on Tuesday, reaching $74.54. The company had a trading volume of 688,322 shares, compared to its average volume of 1,068,964. The company has a market cap of $11.75 billion, a P/E ratio of 59.37, a PEG ratio of 9.11 and a beta of 1.29. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $89.91. The business’s fifty day moving average price is $74.46 and its 200 day moving average price is $72.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. The firm had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $292.36 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. Equities analysts anticipate that Bio-Techne Co. will post 1.56 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, May 10th. Bio-Techne’s dividend payout ratio is 25.40%.

Analysts Set New Price Targets

TECH has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a report on Thursday, May 2nd. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Robert W. Baird upped their target price on Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.