Parkside Financial Bank & Trust Increases Position in Bio-Techne Co. (NASDAQ:TECH)

Parkside Financial Bank & Trust lifted its holdings in Bio-Techne Co. (NASDAQ:TECH) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,265 shares of the biotechnology company’s stock after buying an additional 323 shares during the period. Parkside Financial Bank & Trust’s holdings in Bio-Techne were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TECH. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bio-Techne in the 3rd quarter worth approximately $27,000. CVA Family Office LLC bought a new stake in shares of Bio-Techne in the 4th quarter worth approximately $31,000. Federated Hermes Inc. bought a new stake in shares of Bio-Techne in the 3rd quarter worth approximately $47,000. Clear Street Markets LLC raised its holdings in shares of Bio-Techne by 255.8% in the 3rd quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 527 shares during the period. Finally, Lindbrook Capital LLC raised its holdings in Bio-Techne by 23.8% during the 4th quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 177 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Insider Activity

In related news, Director Roeland Nusse sold 10,400 shares of the stock in a transaction dated 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 directly owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.10% of the company’s stock.

Bio-Techne Trading Down 1.1 %

NASDAQ TECH traded down $0.73 during trading on Wednesday, hitting $62.96. 304,691 shares of the company’s stock traded hands, compared to its average volume of 1,058,317. The stock has a fifty day moving average of $70.35 and a two-hundred day moving average of $68.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91. The firm has a market cap of $9.90 billion, a P/E ratio of 45.71, a PEG ratio of 7.81 and a beta of 1.22.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $272.60 million for the quarter, compared to the consensus estimate of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. As a group, sell-side analysts expect that Bio-Techne Co. will post 1.52 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, February 9th. Bio-Techne’s dividend payout ratio (DPR) is 23.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TECH. Royal Bank of Canada lowered their target price on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Scotiabank assumed coverage on shares of Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price target on the stock. 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 report on Thursday, April 18th. Stifel Nicolaus cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a report on Friday, February 2nd. Finally, Stephens decreased their price target on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.90.

Bio-Techne Company 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.