Chicago Partners Investment Group LLC Purchases Shares of 5,268 Bio-Techne Corp $TECH

Chicago Partners Investment Group LLC purchased a new stake in Bio-Techne Corp (NASDAQ:TECH) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 5,268 shares of the biotechnology company’s stock, valued at approximately $291,000.

Other hedge funds also recently modified their holdings of the company. AlphaQuest LLC acquired a new stake in shares of Bio-Techne in the first quarter valued at about $34,000. Federated Hermes Inc. acquired a new stake in shares of Bio-Techne in the first quarter valued at about $41,000. Caitong International Asset Management Co. Ltd increased its position in shares of Bio-Techne by 1,239.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 855 shares during the last quarter. Hoese & Co LLP acquired a new stake in shares of Bio-Techne in the second quarter valued at about $51,000. Finally, Horizon Financial Services LLC acquired a new stake in shares of Bio-Techne in the first quarter valued at about $69,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Bio-Techne stock opened at $65.90 on Friday. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $80.80. The stock’s 50 day moving average is $56.44 and its 200-day moving average is $53.00. The company has a current ratio of 3.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 143.26, a PEG ratio of 3.86 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The company had revenue of $316.96 million for the quarter, compared to the consensus estimate of $315.14 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts expect that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio is presently 69.57%.

Analyst Ratings Changes

A number of analysts recently issued reports on TECH shares. TD Cowen lifted their target price on Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Techne in a research report on Friday. Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research report on Tuesday, October 14th. Royal Bank Of Canada upgraded Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 3rd. Finally, Scotiabank reduced their price target on Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating for the company in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.58.

Bio-Techne Profile

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.