Bio-Techne Co. (NASDAQ:TECH) Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV raised its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,570 shares of the biotechnology company’s stock after acquiring an additional 1,023 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Bio-Techne were worth $3,137,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in TECH. CVA Family Office LLC acquired a new position in shares of Bio-Techne in the 4th quarter valued at $31,000. Mather Group LLC. purchased a new position in shares of Bio-Techne during the first quarter worth about $38,000. First Horizon Advisors Inc. grew its stake in Bio-Techne by 57.9% during the 4th 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 acquired a new position in Bio-Techne during the fourth quarter worth approximately $44,000. Finally, Federated Hermes Inc. purchased a new stake in Bio-Techne in the third quarter valued at approximately $47,000. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Thursday, May 2nd. Robert W. Baird lifted their target price on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Citigroup lowered shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.00.

Bio-Techne Price Performance

Shares of TECH stock traded up $0.93 during midday trading on Wednesday, reaching $72.17. 229,023 shares of the company traded hands, compared to its average volume of 1,095,781. The firm’s 50 day simple moving average is $76.14 and its two-hundred day simple moving average is $72.99. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $89.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88. The firm has a market cap of $11.37 billion, a PE ratio of 56.54, a price-to-earnings-growth ratio of 8.61 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data 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 business had revenue of $303.43 million during the quarter, compared to analysts’ expectations of $292.36 million. During the same period last year, the company posted $0.47 EPS. The company’s revenue was up 3.2% on a year-over-year basis. On average, equities research analysts expect that Bio-Techne Co. will post 1.56 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were paid a $0.08 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.32 annualized dividend and a yield of 0.44%. Bio-Techne’s payout ratio is currently 25.40%.

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.