Henshaw Capital LLC Acquires 10,915 Shares of Bio-Techne Corp $TECH

Henshaw Capital LLC lifted its holdings in Bio-Techne Corp (NASDAQ:TECH) by 31.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 45,905 shares of the biotechnology company’s stock after buying an additional 10,915 shares during the quarter. Henshaw Capital LLC’s holdings in Bio-Techne were worth $2,399,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Morgan Stanley raised its holdings in Bio-Techne by 15.3% during the 4th quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock worth $490,794,000 after buying an additional 1,107,536 shares during the period. State Street Corp increased its position in shares of Bio-Techne by 1.0% during the fourth quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock worth $341,806,000 after acquiring an additional 58,639 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Bio-Techne by 12.1% during the fourth quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock worth $337,219,000 after acquiring an additional 618,916 shares during the period. Maverick Capital Ltd. raised its holdings in shares of Bio-Techne by 23.1% during the first quarter. Maverick Capital Ltd. now owns 4,739,721 shares of the biotechnology company’s stock worth $247,698,000 after acquiring an additional 888,798 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Bio-Techne by 21.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,075,194 shares of the biotechnology company’s stock valued at $239,663,000 after acquiring an additional 725,050 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler started coverage on Bio-Techne in a report on Thursday, June 11th. They set a “neutral” rating and a $65.00 target price for the company. William Blair lowered Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Robert W. Baird boosted their price target on Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Evercore cut Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Stephens set a $73.00 price objective on Bio-Techne and gave the stock an “equal weight” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bio-Techne presently has a consensus rating of “Hold” and a consensus price target of $68.08.

Bio-Techne Stock Up 0.1%

TECH stock opened at $72.09 on Friday. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 104.48, a P/E/G ratio of 8.59 and a beta of 1.29. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.36. The business has a 50 day moving average price of $63.04 and a two-hundred day moving average price of $59.08. 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 (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. Analysts anticipate that Bio-Techne Corp will post 1.65 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, May 18th. Bio-Techne’s dividend payout ratio is 46.38%.

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.