105,796 Shares in Bio-Techne Corp $TECH Acquired by Nuance Investments LLC

Nuance Investments LLC purchased a new stake in Bio-Techne Corp (NASDAQ:TECH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 105,796 shares of the biotechnology company’s stock, valued at approximately $7,474,000. Bio-Techne makes up approximately 1.3% of Nuance Investments LLC’s holdings, making the stock its 22nd largest position. Nuance Investments LLC owned approximately 0.07% of Bio-Techne as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of TECH. Impax Asset Management Group plc acquired a new position in shares of Bio-Techne in the 4th quarter valued at $11,468,000. Comerica Bank boosted its holdings in shares of Bio-Techne by 56.4% in the fourth quarter. Comerica Bank now owns 105,481 shares of the biotechnology company’s stock worth $6,203,000 after buying an additional 38,031 shares during the period. Nicholas Company Inc. boosted its holdings in shares of Bio-Techne by 6.5% in the fourth quarter. Nicholas Company Inc. now owns 390,794 shares of the biotechnology company’s stock worth $22,983,000 after buying an additional 23,785 shares during the period. American Capital Management Inc. increased its position in shares of Bio-Techne by 8.5% in the first quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company’s stock worth $53,364,000 after acquiring an additional 79,979 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Bio-Techne by 316.7% in the fourth quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company’s stock worth $41,373,000 after acquiring an additional 534,676 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $72.39 on Tuesday. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 62.95, a P/E/G ratio of 8.62 and a beta of 1.28. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.62. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $67.79 and a 200 day simple moving average of $59.29.

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

Bio-Techne Increases Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on TECH. Leerink Partners set a $73.00 price target on shares of Bio-Techne in a research report on Thursday, June 25th. Piper Sandler assumed coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They set a “neutral” rating and a $65.00 price objective on the stock. Royal Bank Of Canada downgraded shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $62.00 to $73.00 in a research note on Thursday, July 9th. TD Cowen cut Bio-Techne from a “buy” rating to a “hold” rating and raised their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 29th. Finally, Wells Fargo & Company downgraded Bio-Techne from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $62.00 to $73.00 in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.92.

About Bio-Techne

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.