S&CO Inc. Buys Shares of 76,614 Bio-Techne Corp $TECH

S&CO Inc. purchased a new stake in Bio-Techne Corp (NASDAQ:TECH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 76,614 shares of the biotechnology company’s stock, valued at approximately $5,412,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TECH. Danske Bank A S purchased a new position in Bio-Techne in the fourth quarter worth approximately $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Bio-Techne in the third quarter valued at $32,000. iSAM Funds UK Ltd acquired a new position in shares of Bio-Techne in the 3rd quarter valued at $33,000. Avalon Trust Co acquired a new position in shares of Bio-Techne in the 2nd quarter valued at $42,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Bio-Techne during the 4th quarter worth $39,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Trading Up 0.3%

TECH opened at $72.40 on Friday. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.43. The business has a fifty day simple moving average of $67.40 and a 200-day simple moving average of $59.31. The firm has a market cap of $11.34 billion, a P/E ratio of 62.96, a P/E/G ratio of 8.62 and a beta of 1.28. The company has a quick ratio of 3.18, a current ratio of 4.55 and a debt-to-equity ratio of 0.09.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $321.19 million during the quarter, compared to analysts’ expectations of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, equities analysts expect that Bio-Techne Corp will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 24th will be issued a dividend of $0.65 per share. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, August 24th. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. Bio-Techne’s dividend payout ratio (DPR) is 27.83%.

Analyst Ratings Changes

TECH has been the subject of a number of recent analyst reports. Evercore downgraded Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. William Blair cut shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 target price for the company. in a research note on Friday, June 26th. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and lifted their price target for the company from $70.00 to $73.00 in a research report on Friday, June 26th. Finally, Robert W. Baird boosted their price target on shares of Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bio-Techne currently has an average rating of “Hold” and an average target price of $68.92.

Bio-Techne Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.