R Squared Ltd Makes New $539,000 Investment in Bio-Techne Corp $TECH

R Squared Ltd bought a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,432 shares of the biotechnology company’s stock, valued at approximately $539,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Bio-Techne in the second quarter worth $990,924,000. HBK Investments L P bought a new position in shares of Bio-Techne during the second quarter valued at about $482,186,000. Ruane Cunniff & Goldfarb L.P. grew its stake 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 buying an additional 1,926,066 shares during the last quarter. Amundi grew its stake in shares of Bio-Techne by 2,426.8% during the second quarter. Amundi now owns 1,827,241 shares of the biotechnology company’s stock valued at $129,095,000 after buying an additional 1,754,926 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Bio-Techne in the second quarter worth about $90,305,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Up 0.1%

NASDAQ:TECH opened at $72.84 on Friday. The company has a fifty day moving average of $72.53 and a 200 day moving average of $63.46. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.88. The firm has a market capitalization of $11.44 billion, a P/E ratio of 63.34, a P/E/G ratio of 5.28 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Monday, November 9th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. The business had revenue of $299.71 million for the quarter, compared to analyst estimates of $292.60 million. Bio-Techne had a net margin of 14.00% and a return on equity of 11.56%. As a group, analysts anticipate that Bio-Techne Corp will post 1.75 EPS for the current year.

Bio-Techne Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. This is a negative change from Bio-Techne’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, November 13th. Bio-Techne’s payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

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

Bio-Techne Company 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.