Bio-Techne Corp $TECH Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC lifted its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 2,094.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,268 shares of the biotechnology company’s stock after purchasing an additional 87,109 shares during the period. Squarepoint Ops LLC owned about 0.06% of Bio-Techne worth $6,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TECH. Measured Wealth Private Client Group LLC purchased a new stake in Bio-Techne during the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd purchased a new position in shares of Bio-Techne in the third quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its position in shares of Bio-Techne by 506.3% in the second 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 in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Bio-Techne in the first quarter worth approximately $37,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Bio-Techne in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.2%

Shares of NASDAQ TECH opened at $72.08 on Friday. The company has a 50 day simple moving average of $71.96 and a 200-day simple moving average of $60.49. The company has a market capitalization of $11.30 billion, a P/E ratio of 62.68, a P/E/G ratio of 8.60 and a beta of 1.28. 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 Corp has a 1 year low of $43.19 and a 1 year high of $72.62.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $321.19 million for the quarter, compared to analysts’ expectations of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts predict that Bio-Techne Corp will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were paid 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 was Monday, August 24th. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. Bio-Techne’s dividend payout ratio is currently 27.83%.

Analyst Ratings Changes

TECH has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price objective for the company. in a research note on Friday, June 26th. Wells Fargo & Company lowered shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $62.00 to $73.00 in a report on Thursday, August 13th. TD Cowen cut shares of Bio-Techne from a “buy” rating to a “hold” rating and increased their target price for the company from $65.00 to $73.00 in a research report on Monday, June 29th. Robert W. Baird raised their price target on shares of Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Two investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.92.

Bio-Techne Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops and supplies research, diagnostic and bioprocessing products. Its portfolio includes proteins, antibodies, immunoassays, molecular biology reagents, cell and gene therapy tools, and instruments used by academic, pharmaceutical, biotechnology and diagnostic laboratories.

The company operates through brands including R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics. Its products support applications such as protein analysis, spatial biology, single-cell research, biomarker discovery, drug development and the manufacture of cell and gene therapies.