Vise Technologies Inc. Acquires 10,380 Shares of Bio-Techne Corp $TECH

Vise Technologies Inc. bought a new stake in shares of Bio-Techne Corp (NASDAQ:TECH – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,380 shares of the biotechnology company’s stock, valued at approximately $752,000.

Other hedge funds have also recently bought and sold shares of the company. Choreo LLC acquired a new stake in Bio-Techne in the 3rd quarter valued at about $213,000. North Dakota State Investment Board boosted its position in shares of Bio-Techne by 4.3% during the 3rd quarter. North Dakota State Investment Board now owns 4,789 shares of the biotechnology company’s stock valued at $347,000 after purchasing an additional 196 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Bio-Techne by 7.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 6,961 shares of the biotechnology company’s stock worth $504,000 after purchasing an additional 495 shares during the last quarter. Signaturefd LLC grew its stake in shares of Bio-Techne by 24.9% in the 3rd quarter. Signaturefd LLC now owns 3,808 shares of the biotechnology company’s stock worth $276,000 after purchasing an additional 759 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Bio-Techne in the 3rd quarter worth approximately $206,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Trading Down 0.0%

NASDAQ TECH opened at $72.82 on Wednesday. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.88. The company has a market cap of $11.44 billion, a PE ratio of 63.32, a PEG ratio of 5.28 and a beta of 1.29. The stock’s 50-day moving average price is $72.50 and its two-hundred day moving average price is $63.41.

Bio-Techne (NASDAQ:TECH – Get Free Report) last announced its earnings results on Friday, November 6th. The biotechnology company reported $0.44 EPS for the quarter, hitting the consensus estimate of $0.44. Bio-Techne had a net margin of 14.00% and a return on equity of 11.56%. The company had revenue of $299.71 million during the quarter, compared to analysts’ expectations of $292.60 million. Research analysts forecast that Bio-Techne Corp will post 1.75 EPS for the current fiscal year.

Bio-Techne Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Friday, November 13th will be given a $0.08 dividend. This is a drop from Bio-Techne’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, November 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Bio-Techne’s payout ratio is currently 27.83%.

Wall Street Analyst Weigh In

A number of analysts recently commented on TECH shares. Benchmark reiterated a “hold” rating on shares of Bio-Techne in a report on Wednesday, August 19th. Zacks Research raised Bio-Techne from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Weiss Ratings upgraded Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Argus downgraded Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 26th. Finally, Wells Fargo & Company lowered Bio-Techne from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $62.00 to $73.00 in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.92.

Read Our Latest Report on Bio-Techne

About Bio-Techne

(Free Report)

Bio-Techne is a life sciences company that develops and supplies products and services used in biological research, drug development, and clinical diagnostics. Its offerings include proteins, antibodies, immunoassays, and small molecules, as well as instruments and analytical tools for studying cells and biological processes. The company also provides technologies for protein analysis, molecular diagnostics, and spatial biology. Its portfolio includes products and services associated with brands such as R&D Systems, Tocris, ProteinSimple, and Advanced Cell Diagnostics.

Further Reading

Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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