Simon Quick Advisors LLC Has $569,000 Stock Position in Bio-Techne Corp $TECH

Simon Quick Advisors LLC lifted its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 134.9% in the second quarter, Holdings Channel reports. The institutional investor owned 11,064 shares of the biotechnology company’s stock after acquiring an additional 6,354 shares during the period. Simon Quick Advisors LLC’s holdings in Bio-Techne were worth $569,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of TECH. AlphaQuest LLC acquired a new stake in shares of Bio-Techne during the first quarter worth $34,000. Federated Hermes Inc. acquired a new position in shares of Bio-Techne during the 1st quarter worth approximately $41,000. Hoese & Co LLP acquired a new position in shares of Bio-Techne during the 2nd quarter worth approximately $51,000. Caitong International Asset Management Co. Ltd grew its position in shares of Bio-Techne by 1,239.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 855 shares in the last quarter. Finally, Mather Group LLC. grew its position in shares of Bio-Techne by 78.4% during the 1st quarter. Mather Group LLC. now owns 1,215 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 534 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TECH. Cowen restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, October 14th. Citigroup upgraded shares of Bio-Techne from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $70.00 in a research report on Thursday, August 21st. Scotiabank dropped their price target on Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating for the company in a research note on Friday, July 11th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Stephens raised Bio-Techne to a “strong-buy” rating and set a $65.00 price target for the company in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.58.

Bio-Techne Stock Up 2.6%

Shares of NASDAQ TECH opened at $62.57 on Friday. 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 cap of $9.74 billion, a price-to-earnings ratio of 136.02, a PEG ratio of 3.63 and a beta of 1.48. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $80.80. The stock has a 50-day moving average price of $57.24 and a two-hundred day moving average price of $53.41.

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

Bio-Techne Dividend Announcement

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

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.