Foundry Partners LLC Invests $208,000 in Bio-Techne Co. (NASDAQ:TECH)

Foundry Partners LLC bought a new position in Bio-Techne Co. (NASDAQ:TECH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,694 shares of the biotechnology company’s stock, valued at approximately $208,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bio-Techne in the 3rd quarter valued at $27,000. CVA Family Office LLC bought a new stake in Bio-Techne during the fourth quarter worth about $31,000. Federated Hermes Inc. acquired a new position in Bio-Techne during the third quarter valued at approximately $47,000. Clear Street Markets LLC grew its stake in Bio-Techne by 255.8% in the third quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 527 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Bio-Techne by 23.8% during the 4th quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Scotiabank began coverage on Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft dropped their target price 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. Stephens reduced their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Finally, Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research note on Friday, February 2nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.90.

Bio-Techne Trading Up 1.4 %

Shares of Bio-Techne stock opened at $63.69 on Wednesday. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The stock has a market cap of $10.01 billion, a PE ratio of 46.15, a PEG ratio of 7.81 and a beta of 1.22. The firm has a 50-day moving average of $70.35 and a 200-day moving average of $68.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.03 and a current ratio of 4.37.

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

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, February 9th. Bio-Techne’s dividend payout ratio (DPR) is presently 23.19%.

Insider Buying and Selling

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the transaction, the director now directly owns 43,097 shares in the company, valued at $3,317,607.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is currently owned by company insiders.

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.