12,975 Shares in Bio-Techne Corp $TECH Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,975 shares of the biotechnology company’s stock, valued at approximately $917,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank boosted its holdings in Bio-Techne by 56.4% in the fourth quarter. Comerica Bank now owns 105,481 shares of the biotechnology company’s stock valued at $6,203,000 after acquiring an additional 38,031 shares in the last quarter. American Capital Management Inc. lifted its position in shares of 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 worth $53,364,000 after purchasing an additional 79,979 shares during the period. Nicholas Company Inc. boosted its stake in shares of Bio-Techne by 6.5% during the 4th quarter. Nicholas Company Inc. now owns 390,794 shares of the biotechnology company’s stock valued at $22,983,000 after purchasing an additional 23,785 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Bio-Techne by 316.7% during the 4th quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company’s stock valued at $41,373,000 after purchasing an additional 534,676 shares in the last quarter. Finally, S&CO Inc. bought a new position in Bio-Techne in the second quarter worth about $5,412,000. Institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

TECH has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price objective on the stock. in a research report on Friday, June 26th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Benchmark reissued a “hold” rating on shares of Bio-Techne in a research report on Wednesday, August 19th. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and boosted their target price for the company from $70.00 to $73.00 in a report on Friday, June 26th. Finally, Stephens set a $73.00 price target on shares of Bio-Techne and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.92.

Bio-Techne Price Performance

TECH opened at $72.47 on Friday. The firm has a market cap of $11.36 billion, a PE ratio of 63.02, a P/E/G ratio of 8.62 and a beta of 1.28. The stock has a 50-day moving average price of $70.57 and a 200-day moving average price of $59.67. Bio-Techne Corp has a 1 year low of $43.19 and a 1 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.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $321.19 million during the quarter, compared to analyst estimates of $314.63 million. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. Bio-Techne’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. Sell-side analysts predict that Bio-Techne Corp will post 1.76 earnings per share for the current fiscal year.

Bio-Techne Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be given a $0.65 dividend. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, August 24th. This represents a $2.60 annualized dividend and a yield of 3.6%. Bio-Techne’s payout ratio 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.