New York Life Investment Management LLC Acquires 1,121 Shares of Bio-Techne Co. (NASDAQ:TECH)

New York Life Investment Management LLC grew its holdings in Bio-Techne Co. (NASDAQ:TECHFree Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 40,714 shares of the biotechnology company’s stock after purchasing an additional 1,121 shares during the period. New York Life Investment Management LLC’s holdings in Bio-Techne were worth $3,141,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bio-Techne in the 3rd quarter valued at approximately $27,000. CVA Family Office LLC bought a new position in shares of Bio-Techne in the 4th quarter valued at $31,000. GAMMA Investing LLC acquired a new stake in shares of Bio-Techne during the 4th quarter valued at $44,000. Federated Hermes Inc. acquired a new position in Bio-Techne in the 3rd quarter worth about $47,000. Finally, Clear Street Markets LLC increased its holdings in Bio-Techne by 255.8% in the 3rd quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TECH shares. Deutsche Bank Aktiengesellschaft reduced their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Stifel Nicolaus cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research report on Friday, February 2nd. Benchmark reiterated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Thursday. Scotiabank began coverage on Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price on the stock. Finally, Stephens decreased their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.50.

Check Out Our Latest Stock Report on TECH

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $77.29 on Friday. The firm has a market capitalization of $12.15 billion, a P/E ratio of 61.34, a P/E/G ratio of 9.62 and a beta of 1.23. The firm’s 50-day moving average price is $69.76 and its 200-day moving average price is $68.55. The company has a current ratio of 4.08, a quick ratio of 3.03 and a debt-to-equity ratio of 0.19. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $89.91.

Bio-Techne (NASDAQ:TECHGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The business had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts anticipate that Bio-Techne Co. will post 1.52 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be given a $0.08 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.32 annualized dividend and a yield of 0.41%. Bio-Techne’s payout ratio is 25.40%.

Insiders Place Their Bets

In related news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.45% of the company’s stock.

About Bio-Techne

(Free Report)

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.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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