5,711 Shares in Bio-Techne Co. (NASDAQ:TECH) Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd purchased a new stake in shares of Bio-Techne Co. (NASDAQ:TECH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,711 shares of the biotechnology company’s stock, valued at approximately $396,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC purchased a new position in shares of Bio-Techne in the 4th quarter valued at $31,000. Mather Group LLC. acquired a new position in shares of Bio-Techne during the first quarter worth about $38,000. First Horizon Advisors Inc. lifted its stake in shares of 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 purchasing an additional 191 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Bio-Techne in the first quarter valued at about $43,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Bio-Techne in the fourth quarter valued at about $44,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

Shares of Bio-Techne stock traded up $0.78 during trading hours on Wednesday, reaching $72.07. The company’s stock had a trading volume of 917,253 shares, compared to its average volume of 1,087,959. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08. Bio-Techne Co. has a one year low of $51.79 and a one year high of $89.91. The company’s 50 day simple moving average is $76.93 and its 200 day simple moving average is $72.80. The stock has a market cap of $11.36 billion, a P/E ratio of 56.64, a price-to-earnings-growth ratio of 7.42 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Bio-Techne’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. As a group, analysts expect 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 dividend of $0.08 per share. The ex-dividend date was Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. Bio-Techne’s payout ratio is currently 25.40%.

Wall Street Analyst Weigh In

TECH has been the subject of a number of analyst reports. 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 report on Thursday, April 18th. Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research note on Wednesday, May 22nd. Robert W. Baird upped their price objective 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. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average target price of $81.00.

Bio-Techne Profile

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.