Man Group plc Makes New $25.43 Million Investment in Bio-Techne Corp $TECH

Man Group plc acquired a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 360,000 shares of the biotechnology company’s stock, valued at approximately $25,434,000.

Other large investors also recently modified their holdings of the company. Comerica Bank raised its position in shares of Bio-Techne by 56.4% in the 4th quarter. Comerica Bank now owns 105,481 shares of the biotechnology company’s stock valued at $6,203,000 after acquiring an additional 38,031 shares during the period. American Capital Management Inc. grew its holdings in Bio-Techne by 8.5% during the first quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company’s stock valued at $53,364,000 after purchasing an additional 79,979 shares during the period. Nicholas Company Inc. grew its holdings in Bio-Techne by 6.5% during the fourth quarter. Nicholas Company Inc. now owns 390,794 shares of the biotechnology company’s stock valued at $22,983,000 after purchasing an additional 23,785 shares during the period. Principal Financial Group Inc. increased its stake in Bio-Techne by 316.7% in the fourth quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company’s stock valued at $41,373,000 after purchasing an additional 534,676 shares in the last quarter. Finally, S&CO Inc. bought a new stake in Bio-Techne in the second quarter valued at approximately $5,412,000. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Up 0.1%

Shares of TECH stock opened at $72.38 on Thursday. The firm has a fifty day moving average of $70.28 and a 200-day moving average of $59.63. The company has a quick ratio of 3.35, a current ratio of 4.55 and a debt-to-equity ratio of 0.09. Bio-Techne Corp has a 12-month low of $43.19 and a 12-month high of $72.62. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 62.94, a P/E/G ratio of 8.62 and a beta of 1.28.

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

Bio-Techne Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s dividend payout ratio (DPR) is 27.83%.

Wall Street Analysts Forecast Growth

TECH has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Royal Bank Of Canada cut shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $62.00 to $73.00 in a research report on Thursday, July 9th. Weiss Ratings raised Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. William Blair cut Bio-Techne from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 25th. Finally, Benchmark reissued a “hold” rating on shares of Bio-Techne in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.92.

About Bio-Techne

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.