Polen Capital Management LLC Invests $1.73 Million in Bio-Techne Co. (NASDAQ:TECH)

Polen Capital Management LLC acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECHFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,383 shares of the biotechnology company’s stock, valued at approximately $1,727,000.

Several other institutional investors also recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Bio-Techne by 4.5% during the 3rd quarter. Morgan Stanley now owns 3,305,826 shares of the biotechnology company’s stock worth $225,028,000 after purchasing an additional 143,716 shares during the last quarter. Mackenzie Financial Corp grew its stake in Bio-Techne by 3.0% in the 4th quarter. Mackenzie Financial Corp now owns 2,399,327 shares of the biotechnology company’s stock valued at $185,132,000 after buying an additional 70,294 shares during the last quarter. Invesco Ltd. grew its stake in Bio-Techne by 14.8% in the 3rd quarter. Invesco Ltd. now owns 1,880,812 shares of the biotechnology company’s stock valued at $128,027,000 after buying an additional 241,771 shares during the last quarter. Northern Trust Corp grew its stake in Bio-Techne by 2.4% in the 3rd quarter. Northern Trust Corp now owns 1,627,073 shares of the biotechnology company’s stock valued at $110,755,000 after buying an additional 38,223 shares during the last quarter. Finally, Norges Bank acquired a new position in Bio-Techne in the 4th quarter valued at about $119,771,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TECH has been the topic of a number of research reports. Stifel Nicolaus lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Friday, February 2nd. Benchmark reiterated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Stephens decreased their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Finally, Scotiabank began coverage on shares of Bio-Techne in a research report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Read Our Latest Report on TECH

Bio-Techne Price Performance

Shares of Bio-Techne stock traded down $0.06 on Friday, reaching $77.19. 1,307,031 shares of the stock were exchanged, compared to its average volume of 975,779. The firm’s 50 day moving average is $72.59 and its 200-day moving average is $71.41. Bio-Techne Co. has a one year low of $51.79 and a one year high of $89.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08. The firm has a market cap of $12.16 billion, a PE ratio of 61.26, a P/E/G ratio of 9.28 and a beta of 1.23.

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

Bio-Techne Dividend Announcement

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

Insider Activity at Bio-Techne

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

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.

Further Reading

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

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