Cwm LLC Buys 305 Shares of Bio-Techne Co. (NASDAQ:TECH)

Cwm LLC grew its stake in Bio-Techne Co. (NASDAQ:TECH) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,786 shares of the biotechnology company’s stock after acquiring an additional 305 shares during the period. Cwm LLC’s holdings in Bio-Techne were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC raised its stake in shares of Bio-Techne by 23.8% in the fourth quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 177 shares during the last quarter. Czech National Bank raised its stake in shares of Bio-Techne by 0.7% in the fourth quarter. Czech National Bank now owns 27,698 shares of the biotechnology company’s stock worth $2,137,000 after acquiring an additional 181 shares during the last quarter. First Horizon Advisors Inc. raised 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 buying an additional 191 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of Bio-Techne by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 43,344 shares of the biotechnology company’s stock worth $3,344,000 after buying an additional 200 shares during the last quarter. Finally, Wahed Invest LLC raised its stake in shares of Bio-Techne by 9.0% during the fourth quarter. Wahed Invest LLC now owns 2,652 shares of the biotechnology company’s stock worth $205,000 after buying an additional 220 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on TECH. Robert W. Baird boosted their price target on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Benchmark reissued a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Thursday, May 2nd. Finally, Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target for the company. in a research note on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and an average price target of $81.00.

Bio-Techne Stock Down 1.2 %

Bio-Techne stock opened at $73.66 on Friday. The stock has a market capitalization of $11.61 billion, a PE ratio of 58.46, a price-to-earnings-growth ratio of 8.95 and a beta of 1.29. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $89.91. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $74.88 and a 200-day moving average of $72.90.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $303.43 million during 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%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, equities research analysts anticipate that Bio-Techne Co. will post 1.56 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, May 10th. Bio-Techne’s dividend payout ratio (DPR) is presently 25.40%.

About Bio-Techne

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.