76,614 Shares in Bio-Techne Corp $TECH Acquired by S&CO Inc.

S&CO Inc. bought a new position in shares of Bio-Techne Corp (NASDAQ:TECH) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 76,614 shares of the biotechnology company’s stock, valued at approximately $5,412,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Danske Bank A S purchased a new position in Bio-Techne in the 4th quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Bio-Techne during the third quarter worth $32,000. iSAM Funds UK Ltd purchased a new stake in shares of Bio-Techne during the third quarter worth $33,000. EverSource Wealth Advisors LLC raised its stake 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. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Bio-Techne in the first quarter valued at $37,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TECH has been the subject of several analyst reports. Benchmark cut Bio-Techne from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target on the stock. in a research report on Friday, June 26th. Stephens set a $73.00 price objective on Bio-Techne and gave the company an “equal weight” rating in a research note on Friday, June 26th. Leerink Partners set a $73.00 price objective on Bio-Techne in a research report on Thursday, June 25th. Finally, 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 research note on Thursday. Two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.92.

Bio-Techne Stock Up 0.3%

Shares of NASDAQ TECH opened at $72.40 on Friday. The stock has a market cap of $11.34 billion, a PE ratio of 62.96, a price-to-earnings-growth ratio of 8.62 and a beta of 1.28. The company has a quick ratio of 3.18, a current ratio of 4.55 and a debt-to-equity ratio of 0.09. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.43. The business has a 50-day moving average price of $67.40 and a 200 day moving average price of $59.31.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The company had revenue of $321.19 million for the quarter, compared to analyst estimates of $314.63 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts forecast that Bio-Techne Corp will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 24th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, August 24th. Bio-Techne’s payout ratio is 27.83%.

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.