Financial Consulate Inc. Buys 3,822 Shares of Bio-Techne Co. (NASDAQ:TECH)

Financial Consulate Inc. raised its stake in shares of Bio-Techne Co. (NASDAQ:TECH – Get Rating) by 310.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,052 shares of the biotechnology company’s stock after acquiring an additional 3,822 shares during the quarter. Financial Consulate Inc.’s holdings in Bio-Techne were worth $419,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. increased its stake in shares of Bio-Techne by 488.2% in the third quarter. Cullen Frost Bankers Inc. now owns 100 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 83 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Bio-Techne in the first quarter valued at $56,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Bio-Techne in the third quarter valued at $38,000. Ellevest Inc. increased its stake in shares of Bio-Techne by 119.0% in the third quarter. Ellevest Inc. now owns 173 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 94 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Bio-Techne by 34.8% in the third quarter. Global Retirement Partners LLC now owns 209 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 54 shares in the last quarter. 23.92% of the stock is owned by institutional investors.

Bio-Techne Price Performance

Shares of TECH opened at $72.31 on Friday. The company has a current ratio of 4.40, a quick ratio of 3.15 and a debt-to-equity ratio of 0.11. Bio-Techne Co. has a 1 year low of $68.00 and a 1 year high of $113.81. The stock has a market cap of $11.37 billion, a P/E ratio of 44.91, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. The stock’s 50-day moving average price is $77.53 and its two-hundred day moving average price is $80.46.

Bio-Techne Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Stockholders of record on Monday, February 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, February 10th. This is a boost from Bio-Techne’s previous quarterly dividend of $0.02. Bio-Techne’s payout ratio is 19.88%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TECH. KeyCorp lowered their target price on Bio-Techne from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Stephens lowered their price objective on Bio-Techne to $105.00 and set an “overweight” rating for the company in a research report on Monday, December 5th. Royal Bank of Canada lowered their price objective on Bio-Techne from $89.00 to $88.00 and set a “sector perform” rating for the company in a research report on Monday, February 6th. SVB Leerink lowered their price objective on Bio-Techne from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Bio-Techne in a research report on Tuesday, December 13th. They issued a “buy” rating and a $100.00 price objective for the company. Two investment 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $104.36.

Bio-Techne Profile

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Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.