BIO-TECHNE Corp (TECH) Stake Raised by JPMorgan Chase & Co.
JPMorgan Chase & Co. increased its position in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 12.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,856 shares of the biotechnology company’s stock after acquiring an additional 8,480 shares during the quarter. JPMorgan Chase & Co. owned 0.20% of BIO-TECHNE worth $15,686,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in shares of BIO-TECHNE during the second quarter valued at $2,773,000. Janney Montgomery Scott LLC bought a new position in shares of BIO-TECHNE during the second quarter valued at $780,000. Aperio Group LLC lifted its holdings in shares of BIO-TECHNE by 2.7% during the second quarter. Aperio Group LLC now owns 36,108 shares of the biotechnology company’s stock valued at $5,342,000 after purchasing an additional 934 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of BIO-TECHNE by 161.4% during the second quarter. Commonwealth Equity Services LLC now owns 10,456 shares of the biotechnology company’s stock valued at $1,547,000 after purchasing an additional 6,456 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of BIO-TECHNE by 13.3% during the second quarter. Victory Capital Management Inc. now owns 27,917 shares of the biotechnology company’s stock valued at $4,130,000 after purchasing an additional 3,282 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.
A number of research analysts have recently issued reports on the company. Goldman Sachs Group set a $165.00 price target on BIO-TECHNE and gave the company a “hold” rating in a report on Friday, November 30th. ValuEngine raised BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. BidaskClub downgraded BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Argus upped their price target on BIO-TECHNE from $210.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research downgraded BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. BIO-TECHNE currently has an average rating of “Buy” and an average price target of $181.00.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, October 30th. The biotechnology company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. The company had revenue of $163.00 million during the quarter, compared to analysts’ expectations of $162.34 million. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. BIO-TECHNE’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. As a group, research analysts anticipate that BIO-TECHNE Corp will post 3.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Thursday, November 8th. BIO-TECHNE’s dividend payout ratio (DPR) is presently 31.45%.
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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