Quantbot Technologies LP Takes Position in Bio-Techne Corp $TECH

Quantbot Technologies LP bought a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,802 shares of the biotechnology company’s stock, valued at approximately $3,730,000.

Several other institutional investors and hedge funds have also bought and sold shares of TECH. Evolve Private Wealth LLC purchased a new position in Bio-Techne in the 2nd quarter worth approximately $498,000. William Blair Investment Management LLC purchased a new stake in shares of Bio-Techne during the second quarter valued at approximately $287,000. Landscape Capital Management L.L.C. bought a new position in shares of Bio-Techne in the second quarter worth approximately $1,820,000. Callan Family Office LLC bought a new position in shares of Bio-Techne in the second quarter worth approximately $1,557,000. Finally, Allworth Financial LP purchased a new position in shares of Bio-Techne in the second quarter worth $59,000. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $72.32 on Monday. 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. The company’s 50-day moving average is $69.28 and its 200 day moving average is $59.50. The stock has a market capitalization of $11.34 billion, a P/E ratio of 62.89, a P/E/G ratio of 8.61 and a beta of 1.28.

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

Bio-Techne Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s dividend payout ratio is currently 27.83%.

Analyst Ratings Changes

A number of equities research analysts recently commented on TECH shares. Stephens set a $73.00 price target on shares of Bio-Techne and gave the company an “equal weight” rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft cut shares of 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. Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. TD Cowen lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and increased their target price for the stock from $65.00 to $73.00 in a report on Monday, June 29th. Finally, Leerink Partners set a $73.00 target price on Bio-Techne in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.92.

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.