PEAK6 LLC Buys New Shares in Bio-Techne Corp $TECH

PEAK6 LLC bought a new position in shares of Bio-Techne Corp (NASDAQ:TECH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 67,942 shares of the biotechnology company’s stock, valued at approximately $4,800,000.

A number of other large investors have also bought and sold shares of the stock. Danske Bank A S acquired a new position in shares of Bio-Techne during the fourth quarter valued at about $29,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Bio-Techne in the 3rd quarter valued at about $32,000. iSAM Funds UK Ltd bought a new stake in Bio-Techne in the 3rd quarter valued at about $33,000. Avalon Trust Co bought a new stake in Bio-Techne in the 2nd quarter valued at about $42,000. Finally, Los Angeles Capital Management LLC acquired a new position in Bio-Techne during the 4th quarter worth approximately $39,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TECH has been the topic of several recent research reports. Robert W. Baird increased their price target on Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Evercore downgraded Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. William Blair lowered Bio-Techne from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 25th. Wells Fargo & Company cut Bio-Techne from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $62.00 to $73.00 in a report on Thursday, August 13th. Finally, Stifel Nicolaus set a $50.00 price target on shares of Bio-Techne in a research report on Thursday, May 7th. Two 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $68.92.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $72.32 on Monday. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.62. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 62.89, a PEG ratio of 8.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. The firm’s 50-day simple moving average is $69.28 and its 200 day simple moving average is $59.50.

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 firm had revenue of $321.19 million during the quarter, compared to analyst estimates 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 for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. As a group, research analysts anticipate that Bio-Techne Corp will post 1.76 earnings per share for the current fiscal year.

Bio-Techne Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, August 24th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. Bio-Techne’s payout ratio is presently 27.83%.

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.