MBB Public Markets I LLC Makes New Investment in Bio-Techne Co. (NASDAQ:TECH)

MBB Public Markets I LLC acquired a new stake in Bio-Techne Co. (NASDAQ:TECH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 11,820 shares of the biotechnology company’s stock, valued at approximately $847,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Deerfield Management Company L.P. Series C bought a new position in Bio-Techne during the second quarter worth about $969,000. APG Asset Management N.V. boosted its stake in shares of Bio-Techne by 9.8% during the 2nd quarter. APG Asset Management N.V. now owns 81,138 shares of the biotechnology company’s stock worth $5,424,000 after acquiring an additional 7,275 shares during the period. Point72 Europe London LLP increased its holdings in shares of Bio-Techne by 15.2% during the 2nd quarter. Point72 Europe London LLP now owns 65,961 shares of the biotechnology company’s stock worth $4,726,000 after acquiring an additional 8,700 shares during the last quarter. Squarepoint Ops LLC raised its stake in Bio-Techne by 90.3% in the 2nd quarter. Squarepoint Ops LLC now owns 32,334 shares of the biotechnology company’s stock valued at $2,317,000 after acquiring an additional 15,345 shares during the period. Finally, Fred Alger Management LLC lifted its holdings in Bio-Techne by 2.4% during the 2nd quarter. Fred Alger Management LLC now owns 837,799 shares of the biotechnology company’s stock valued at $60,028,000 after purchasing an additional 19,675 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TECH. Benchmark reiterated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Royal Bank of Canada decreased their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Finally, Robert W. Baird raised their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.60.

Bio-Techne Stock Down 2.2 %

Shares of TECH opened at $78.17 on Wednesday. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $12.40 billion, a PE ratio of 62.04, a P/E/G ratio of 5.69 and a beta of 1.27. The firm’s 50 day moving average is $75.29 and its 200-day moving average is $74.12. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The firm had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $306.49 million. During the same period in the previous year, the firm earned $0.56 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Bio-Techne’s payout ratio is 25.40%.

Bio-Techne Company 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.