Jupiter Topco LLC bought a new stake in Bio-Techne Corp (NASDAQ:TECH – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 68,202 shares of the biotechnology company’s stock, valued at approximately $4,818,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kintayl Capital LP purchased a new stake in shares of Bio-Techne during the 2nd quarter worth approximately $1,603,000. Hsbc Holdings PLC bought a new position in Bio-Techne during the second quarter valued at $17,110,000. Canada Pension Plan Investment Board bought a new position in Bio-Techne during the second quarter valued at $21,781,000. Legal & General Group Plc purchased a new stake in Bio-Techne in the second quarter worth $19,514,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Bio-Techne in the second quarter worth $8,397,000. 98.95% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Benchmark reaffirmed a “hold” rating on shares of Bio-Techne in a research report on Wednesday, August 19th. Piper Sandler initiated coverage on Bio-Techne in a research note on Thursday, June 11th. They issued a “neutral” rating and a $65.00 price objective on the stock. William Blair downgraded shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Stephens set a $73.00 target price on shares of Bio-Techne and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Finally, Wells Fargo & Company downgraded shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $62.00 to $73.00 in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.92.
Bio-Techne Price Performance
Bio-Techne stock opened at $72.31 on Tuesday. The firm has a market capitalization of $11.34 billion, a P/E ratio of 62.88, a PEG ratio of 8.62 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 company has a debt-to-equity ratio of 0.09, a current ratio of 4.55 and a quick ratio of 3.35. The business has a fifty day moving average price of $71.19 and a 200-day moving average price of $59.77.
Bio-Techne (NASDAQ:TECH – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $321.19 million for 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 firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. As a group, equities research analysts forecast that Bio-Techne Corp will post 1.76 EPS for the current year.
Bio-Techne Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be given a dividend of $0.65 per share. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 24th. Bio-Techne’s dividend payout ratio (DPR) is currently 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.
Read More
- Five stocks we like better than Bio-Techne
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
Receive News & Ratings for Bio-Techne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne and related companies with MarketBeat.com's FREE daily email newsletter.
