Landscape Capital Management L.L.C. bought a new stake in shares of Bio-Techne Corp (NASDAQ:TECH – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,757 shares of the biotechnology company’s stock, valued at approximately $1,820,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Impax Asset Management Group plc purchased a new stake in shares of Bio-Techne during the fourth quarter worth approximately $11,468,000. Comerica Bank grew its position in 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 buying an additional 38,031 shares during the last quarter. American Capital Management Inc. increased its stake in Bio-Techne by 8.5% in the 1st quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company’s stock valued at $53,364,000 after buying an additional 79,979 shares during the period. Nicholas Company Inc. increased its stake in Bio-Techne by 6.5% in the 4th quarter. Nicholas Company Inc. now owns 390,794 shares of the biotechnology company’s stock valued at $22,983,000 after buying an additional 23,785 shares during the period. Finally, Principal Financial Group Inc. raised its position in Bio-Techne by 316.7% during the 4th quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company’s stock worth $41,373,000 after buying an additional 534,676 shares during the last quarter. 98.95% of the stock is owned by institutional investors.
Bio-Techne Stock Performance
Bio-Techne stock opened at $72.32 on Friday. The firm has a market capitalization of $11.32 billion, a PE ratio of 62.89, a price-to-earnings-growth ratio of 8.61 and a beta of 1.28. Bio-Techne Corp has a one year low of $43.19 and a one year high of $72.62. The stock’s 50 day moving average price is $69.28 and its 200 day moving average price is $59.54. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55.
Bio-Techne Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be issued a $0.65 dividend. The ex-dividend date is Monday, August 24th. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s dividend payout ratio (DPR) is presently 27.83%.
Analyst Ratings Changes
TECH has been the topic of several analyst reports. Leerink Partners set a $73.00 target price on shares of Bio-Techne in a report on Thursday, June 25th. Robert W. Baird raised their price objective on shares of Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. William Blair lowered Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Benchmark reaffirmed a “hold” rating on shares of Bio-Techne in a report on Wednesday. Finally, Evercore cut Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.92.
Check Out Our Latest Research Report on Bio-Techne
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.
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