Charles Schwab Investment Management Inc. Grows Position in Bio-Techne Co. (NASDAQ:TECH)

Charles Schwab Investment Management Inc. lifted its holdings in Bio-Techne Co. (NASDAQ:TECHFree Report) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,439,919 shares of the biotechnology company’s stock after buying an additional 28,095 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.91% of Bio-Techne worth $111,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bio-Techne in the 3rd quarter worth approximately $27,000. CVA Family Office LLC purchased a new position in Bio-Techne during the fourth quarter worth approximately $31,000. First Horizon Advisors Inc. boosted its stake in Bio-Techne by 57.9% during the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock worth $40,000 after buying an additional 191 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Bio-Techne in the 4th quarter valued at $44,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Bio-Techne in the 3rd quarter worth $47,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TECH shares. Stifel Nicolaus downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a report on Friday, February 2nd. Stephens reduced their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Scotiabank started coverage on Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Robert W. Baird upped their target price on shares of Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Read Our Latest Report on Bio-Techne

Bio-Techne Stock Up 1.7 %

Shares of NASDAQ:TECH opened at $80.91 on Friday. The firm’s 50-day moving average is $70.23 and its two-hundred day moving average is $69.04. 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 Co. has a 1 year low of $51.79 and a 1 year high of $89.91. The firm has a market capitalization of $12.75 billion, a PE ratio of 64.21, a price-to-earnings-growth ratio of 9.72 and a beta of 1.23.

Bio-Techne (NASDAQ:TECHGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $292.36 million. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. Analysts predict that Bio-Techne Co. will post 1.56 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, May 10th. Bio-Techne’s dividend payout ratio is presently 25.40%.

Insider Buying and Selling at Bio-Techne

In related news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the transaction, the director now owns 43,097 shares in the company, valued at $3,317,607.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.45% of the company’s stock.

Bio-Techne Company Profile

(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.

See Also

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

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