TradeLink Capital LLC Makes New Investment in Bio-Techne Corp $TECH

TradeLink Capital LLC acquired a new stake in Bio-Techne Corp (NASDAQ:TECH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,804 shares of the biotechnology company’s stock, valued at approximately $1,223,000. Bio-Techne accounts for approximately 9.8% of TradeLink Capital LLC’s holdings, making the stock its 2nd largest holding.

A number of other hedge funds also recently made changes to their positions in TECH. Impax Asset Management Group plc acquired a new stake in Bio-Techne during the fourth quarter worth approximately $11,468,000. Caprock Group LLC acquired a new position in shares of Bio-Techne in the third quarter valued at approximately $1,710,000. Madison Asset Management LLC bought a new position in shares of Bio-Techne during the third quarter worth approximately $41,425,000. Hollow Brook Wealth Management LLC increased its stake in shares of Bio-Techne by 69.7% during the third quarter. Hollow Brook Wealth Management LLC now owns 174,677 shares of the biotechnology company’s stock worth $9,717,000 after purchasing an additional 71,739 shares during the period. Finally, Pembroke Management LTD lifted its holdings in Bio-Techne by 10.9% during the 3rd quarter. Pembroke Management LTD now owns 376,977 shares of the biotechnology company’s stock worth $20,971,000 after purchasing an additional 37,189 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $47.42 on Tuesday. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 68.73, a PEG ratio of 3.19 and a beta of 1.41. Bio-Techne Corp has a fifty-two week low of $45.12 and a fifty-two week high of $72.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. The stock has a fifty day moving average price of $54.01 and a 200-day moving average price of $59.32.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The company had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. During the same quarter in the previous year, the business posted $0.56 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts anticipate that Bio-Techne Corp will post 1.72 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is currently 46.38%.

Wall Street Analysts Forecast Growth

TECH has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. Weiss Ratings upgraded shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, Robert W. Baird set a $49.00 price objective on shares of Bio-Techne in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average target price of $66.77.

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.