10,639 Shares in Bio-Techne Corp $TECH Bought by StoneX Group Inc.

StoneX Group Inc. acquired a new position in shares of Bio-Techne Corp (NASDAQ:TECH) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,639 shares of the biotechnology company’s stock, valued at approximately $768,000.

Several other institutional investors have also recently added to or reduced their stakes in TECH. BlackRock Inc. acquired a new stake in Bio-Techne during the second quarter worth about $990,924,000. HBK Investments L P acquired a new position in Bio-Techne in the second quarter valued at approximately $482,186,000. Maverick Capital Ltd. grew 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 valued at $247,698,000 after purchasing an additional 888,798 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. grew its holdings in shares of Bio-Techne by 131.4% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company’s stock valued at $177,266,000 after purchasing an additional 1,926,066 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bio-Techne by 10.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,973,136 shares of the biotechnology company’s stock worth $103,118,000 after purchasing an additional 178,843 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

TECH opened at $72.82 on Wednesday. The stock’s 50 day moving average price is $72.50 and its 200 day moving average price is $63.41. The stock has a market cap of $11.44 billion, a P/E ratio of 63.32, a P/E/G ratio of 5.28 and a beta of 1.29. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.88.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Friday, November 6th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. The company had revenue of $299.71 million during the quarter, compared to analysts’ expectations of $292.60 million. Bio-Techne had a return on equity of 11.56% and a net margin of 14.00%. Equities analysts anticipate that Bio-Techne Corp will post 1.75 EPS for the current year.

Bio-Techne Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. This is a decrease from Bio-Techne’s previous quarterly dividend of $0.65. Bio-Techne’s dividend payout ratio (DPR) is currently 27.83%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TECH shares. Weiss Ratings upgraded Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Zacks Research raised shares of Bio-Techne from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Argus lowered shares of Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 26th. Wells Fargo & Company cut shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $62.00 to $73.00 in a report on Thursday, August 13th. Finally, Benchmark reaffirmed a “hold” rating on shares of Bio-Techne in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bio-Techne presently has an average rating of “Hold” and an average price target of $68.92.

Bio-Techne Profile

Bio-Techne is a life sciences company that develops and supplies products and services used in biological research, drug development, and clinical diagnostics. Its offerings include proteins, antibodies, immunoassays, and small molecules, as well as instruments and analytical tools for studying cells and biological processes. The company also provides technologies for protein analysis, molecular diagnostics, and spatial biology. Its portfolio includes products and services associated with brands such as R&D Systems, Tocris, ProteinSimple, and Advanced Cell Diagnostics.