Municipal Employees Retirement System of Michigan Acquires New Holdings in BIO-TECHNE Corp (NASDAQ:TECH)

Municipal Employees Retirement System of Michigan bought a new position in BIO-TECHNE Corp (NASDAQ:TECH) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,070 shares of the biotechnology company’s stock, valued at approximately $1,313,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in BIO-TECHNE by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 416,496 shares of the biotechnology company’s stock valued at $60,275,000 after buying an additional 27,587 shares during the last quarter. Chiron Investment Management LLC raised its stake in BIO-TECHNE by 91.3% during the fourth quarter. Chiron Investment Management LLC now owns 1,467 shares of the biotechnology company’s stock valued at $212,000 after buying an additional 700 shares during the last quarter. Macquarie Group Ltd. raised its stake in BIO-TECHNE by 2.5% during the third quarter. Macquarie Group Ltd. now owns 179,674 shares of the biotechnology company’s stock valued at $36,673,000 after buying an additional 4,398 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of BIO-TECHNE in the third quarter worth $2,883,000. Finally, FMR LLC purchased a new position in shares of BIO-TECHNE in the third quarter worth $225,000. Institutional investors and hedge funds own 94.08% of the company’s stock.

NASDAQ:TECH traded down $0.88 during mid-day trading on Monday, hitting $200.62. 101,700 shares of the company traded hands, compared to its average volume of 198,113. BIO-TECHNE Corp has a one year low of $132.75 and a one year high of $206.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.31 and a current ratio of 4.35. The firm has a market capitalization of $7.64 billion, a PE ratio of 49.29, a P/E/G ratio of 4.57 and a beta of 1.25.

BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, February 5th. The biotechnology company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.08. BIO-TECHNE had a return on equity of 13.90% and a net margin of 14.02%. The business had revenue of $174.50 million during the quarter, compared to analyst estimates of $171.39 million. During the same quarter in the previous year, the company posted $1.02 earnings per share. BIO-TECHNE’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities analysts forecast that BIO-TECHNE Corp will post 3.68 earnings per share for the current fiscal year.

TECH has been the subject of several recent analyst reports. Argus restated a “buy” rating on shares of BIO-TECHNE in a research note on Monday, March 4th. BidaskClub raised BIO-TECHNE from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Craig Hallum reaffirmed a “hold” rating and issued a $179.00 price objective (up previously from $154.00) on shares of BIO-TECHNE in a report on Tuesday, February 5th. Zacks Investment Research raised BIO-TECHNE from a “sell” rating to a “hold” rating in a report on Saturday, January 5th. Finally, Stephens raised BIO-TECHNE from an “equal weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a report on Monday, January 14th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $188.13.

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BIO-TECHNE Company Profile

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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Institutional Ownership by Quarter for BIO-TECHNE (NASDAQ:TECH)

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