Prudential Financial Inc. Has $3.27 Million Position in BIO-TECHNE Corp (TECH)

Prudential Financial Inc. trimmed its position in BIO-TECHNE Corp (NASDAQ:TECH) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,609 shares of the biotechnology company’s stock after selling 1,775 shares during the period. Prudential Financial Inc. owned approximately 0.06% of BIO-TECHNE worth $3,272,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Macquarie Group Ltd. raised its stake in shares of BIO-TECHNE by 2.5% during the 3rd quarter. Macquarie Group Ltd. now owns 179,674 shares of the biotechnology company’s stock worth $36,673,000 after buying an additional 4,398 shares during the last quarter. Stevens Capital Management LP acquired a new position in BIO-TECHNE in the 3rd quarter valued at about $2,883,000. FMR LLC acquired a new position in BIO-TECHNE in the 3rd quarter valued at about $225,000. Quantamental Technologies LLC acquired a new position in BIO-TECHNE in the 4th quarter valued at about $217,000. Finally, Marshall Wace LLP acquired a new position in BIO-TECHNE in the 3rd quarter valued at about $4,509,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

NASDAQ TECH opened at $194.52 on Friday. BIO-TECHNE Corp has a 12 month low of $132.75 and a 12 month high of $206.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.35 and a quick ratio of 3.31. The stock has a market cap of $7.30 billion, a PE ratio of 47.79, a P/E/G ratio of 4.37 and a beta of 1.25.

BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, February 5th. The biotechnology company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. BIO-TECHNE had a net margin of 14.02% and a return on equity of 13.90%. The company had revenue of $174.50 million during the quarter, compared to the consensus estimate of $171.39 million. During the same quarter in the prior year, the company posted $1.02 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, analysts expect that BIO-TECHNE Corp will post 3.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, February 14th. BIO-TECHNE’s dividend payout ratio is currently 31.45%.

Several brokerages recently weighed in on TECH. Zacks Investment Research raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. BidaskClub downgraded shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Argus reissued a “buy” rating on shares of BIO-TECHNE in a research note on Monday, March 4th. ValuEngine downgraded shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 11th. Finally, Goldman Sachs Group set a $165.00 target price on shares of BIO-TECHNE and gave the company a “hold” rating in a research note on Friday, November 30th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $188.13.

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BIO-TECHNE Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.

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Institutional Ownership by Quarter for BIO-TECHNE (NASDAQ:TECH)

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