VCI Wealth Management LLC Buys Shares of 14,573 Bio-Techne Corp $TECH

VCI Wealth Management LLC purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 14,573 shares of the biotechnology company’s stock, valued at approximately $762,000.

Several other institutional investors and hedge funds have also modified their holdings of TECH. Louisiana State Employees Retirement System bought a new stake in shares of Bio-Techne during the 1st quarter worth $418,000. Contravisory Investment Management Inc. increased its stake in Bio-Techne by 1,189.8% in the first quarter. Contravisory Investment Management Inc. now owns 16,148 shares of the biotechnology company’s stock valued at $844,000 after acquiring an additional 14,896 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of Bio-Techne by 8.3% in the 1st quarter. AdvisorNet Financial Inc now owns 4,055 shares of the biotechnology company’s stock worth $212,000 after buying an additional 312 shares in the last quarter. Diversified Trust Co raised its stake in Bio-Techne by 25.2% during the first quarter. Diversified Trust Co now owns 15,916 shares of the biotechnology company’s stock worth $832,000 after acquiring an additional 3,206 shares in the last quarter. Finally, MidFirst Bank acquired a new stake in shares of Bio-Techne during the 4th quarter worth about $223,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Up 0.4%

Shares of Bio-Techne stock opened at $71.00 on Friday. The business has a fifty day simple moving average of $52.95 and a 200 day simple moving average of $57.09. The stock has a market cap of $11.12 billion, a PE ratio of 102.90, a price-to-earnings-growth ratio of 6.85 and a beta of 1.37. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. Research analysts predict that Bio-Techne Corp will post 1.65 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is currently 46.38%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler assumed coverage on Bio-Techne in a report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 price target for the company. Evercore raised Bio-Techne from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Leerink Partners set a $73.00 price target on Bio-Techne in a report on Thursday. Zacks Research lowered Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Finally, Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Bio-Techne presently has an average rating of “Hold” and an average price target of $68.07.

Trending Headlines about Bio-Techne

Here are the key news stories impacting Bio-Techne this week:

• Positive Sentiment: Merck KGaA’s all-cash buyout offer gives Bio-Techne shareholders a clear takeover price and a premium valuation anchor. Merck KGaA, Darmstadt, Germany, Agrees to Acquire Bio-Techne, Strengthening Leadership Position in Fast-Growing Life Sciences Markets
• Positive Sentiment: Analyst actions were mixed but included an upgrade from Evercore to strong-buy and a price-target increase from Baird to $73, reinforcing the view that the shares were moving toward deal value.
• Neutral Sentiment: Unusual call-option activity suggests traders are positioning for further merger-related volatility, but that activity does not change the takeover terms.
• Negative Sentiment: Shareholder-law-firm investigations have begun over whether the Merck deal provides a fair price, which could add some headline risk and scrutiny around the transaction. SHAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Bio-Techne Corporation (NASDAQ: TECH)

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.