Maven Securities LTD Purchases New Position in Bio-Techne Corp $TECH

Maven Securities LTD acquired a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 54,711 shares of the biotechnology company’s stock, valued at approximately $3,865,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TECH. Measured Wealth Private Client Group LLC bought a new stake in shares of Bio-Techne during the third quarter worth $32,000. iSAM Funds UK Ltd bought a new position in shares of Bio-Techne in the 3rd quarter valued at $33,000. EverSource Wealth Advisors LLC lifted its stake in shares of Bio-Techne by 506.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 562 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Bio-Techne during the 1st quarter valued at $37,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Bio-Techne during the 4th quarter valued at $39,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Down 0.2%

NASDAQ TECH opened at $72.31 on Wednesday. The firm has a market capitalization of $11.34 billion, a PE ratio of 62.88, a price-to-earnings-growth ratio of 8.62 and a beta of 1.28. The business’s 50-day moving average price is $71.91 and its two-hundred day moving average price is $60.28. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.62.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The company had revenue of $321.19 million during the quarter, compared to the consensus estimate 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 was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. On average, analysts expect that Bio-Techne Corp will post 1.76 EPS for the current year.

Bio-Techne Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Monday, August 24th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 24th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s dividend payout ratio (DPR) is 27.83%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TECH shares. TD Cowen lowered Bio-Techne from a “buy” rating to a “hold” rating and lifted their price target for the company from $65.00 to $73.00 in a research note on Monday, June 29th. Royal Bank Of Canada downgraded Bio-Techne from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $62.00 to $73.00 in a research note on Thursday, July 9th. Leerink Partners set a $73.00 price objective on shares of Bio-Techne in a report on Thursday, June 25th. Robert W. Baird lifted their target price on shares of Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, William Blair lowered shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Two analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, Bio-Techne presently has an average rating of “Hold” and an average target price of $68.92.

Bio-Techne Company 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.