Wealth Enhancement Advisory Services LLC Has $1.97 Million Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Wealth Enhancement Advisory Services LLC boosted its stake in Bio-Techne Co. (NASDAQ:TECH) by 11.6% during the first quarter, Holdings Channel reports. The institutional investor owned 27,978 shares of the biotechnology company’s stock after buying an additional 2,913 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Bio-Techne were worth $1,969,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lindbrook Capital LLC grew its stake in Bio-Techne by 23.8% in the 4th quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 177 shares during the last quarter. Czech National Bank grew its stake in Bio-Techne by 0.7% in the 4th quarter. Czech National Bank now owns 27,698 shares of the biotechnology company’s stock valued at $2,137,000 after buying an additional 181 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Bio-Techne by 57.9% in the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 191 shares during the last quarter. State of Michigan Retirement System grew its stake in Bio-Techne by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 43,344 shares of the biotechnology company’s stock valued at $3,344,000 after buying an additional 200 shares during the last quarter. Finally, Wahed Invest LLC grew its position in shares of Bio-Techne by 9.0% during the 4th quarter. Wahed Invest LLC now owns 2,652 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $71.45 on Friday. The company has a 50 day moving average of $76.48 and a 200-day moving average of $72.97. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $89.91. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. The company has a market cap of $11.26 billion, a PE ratio of 56.71, a price-to-earnings-growth ratio of 7.38 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last issued 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 company had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, equities research analysts forecast that Bio-Techne Co. will post 1.56 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were given a $0.08 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Bio-Techne’s dividend payout ratio is currently 25.40%.

Analyst Ratings Changes

A number of research analysts have issued reports on TECH shares. Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research report on Thursday, May 2nd. Citigroup lowered shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a research report on Wednesday, May 22nd. Robert W. Baird increased their target price 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. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.00.

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.