Janus Henderson Group PLC Grows Position in Bio-Techne Co. (NASDAQ:TECH)

Janus Henderson Group PLC boosted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 1.3% during the 1st quarter, Holdings Channel reports. The fund owned 995,824 shares of the biotechnology company’s stock after buying an additional 12,991 shares during the period. Janus Henderson Group PLC’s holdings in Bio-Techne were worth $70,095,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. bought a new position in shares of Bio-Techne during the first quarter valued at approximately $38,000. First Horizon Advisors Inc. grew its stake in Bio-Techne by 57.9% in the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 191 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in Bio-Techne in the first quarter worth about $43,000. GAMMA Investing LLC bought a new position in Bio-Techne in the fourth quarter worth about $44,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Bio-Techne during the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TECH shares. Robert W. Baird lifted their price objective on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research report on Thursday, May 2nd. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a report on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.00.

Bio-Techne Stock Performance

Bio-Techne stock traded up $2.25 during midday trading on Tuesday, hitting $81.97. 1,258,544 shares of the company were exchanged, compared to its average volume of 1,071,375. The firm has a market capitalization of $12.92 billion, a PE ratio of 63.27, a price-to-earnings-growth ratio of 8.41 and a beta of 1.29. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.85. The business has a fifty day simple moving average of $76.27 and a two-hundred day simple moving average of $73.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. Bio-Techne’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. On average, sell-side analysts forecast that Bio-Techne Co. will post 1.56 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, May 10th. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.

About Bio-Techne

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.