Glazer Capital LLC Invests $14.13 Million in Bio-Techne Corp $TECH

Glazer Capital LLC bought a new position in Bio-Techne Corp (NASDAQ:TECH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 200,000 shares of the biotechnology company’s stock, valued at approximately $14,130,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Danske Bank A S bought a new position in shares of Bio-Techne during the 4th quarter valued at about $29,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Bio-Techne during the 3rd quarter valued at about $32,000. iSAM Funds UK Ltd bought a new stake in Bio-Techne in the 3rd quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its position in Bio-Techne by 506.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after buying an additional 562 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Bio-Techne in the first quarter worth approximately $37,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $72.47 on Friday. 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 company has a 50-day moving average price of $70.57 and a 200-day moving average price of $59.67. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 63.02, a price-to-earnings-growth ratio of 8.62 and a beta of 1.28. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.62.

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

Bio-Techne Increases Dividend

The business also recently declared 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 represents a $2.60 annualized dividend and a yield of 3.6%. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, August 24th. Bio-Techne’s dividend payout ratio (DPR) is presently 27.83%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TECH. Wells Fargo & Company cut shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $62.00 to $73.00 in a research report on Thursday, August 13th. Leerink Partners set a $73.00 price objective on shares of Bio-Techne in a report on Thursday, June 25th. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and upped their price objective for the company from $70.00 to $73.00 in a research note on Friday, June 26th. Benchmark reaffirmed a “hold” rating on shares of Bio-Techne in a report on Wednesday, August 19th. Finally, Stephens set a $73.00 target price on shares of Bio-Techne and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Bio-Techne presently has an average rating of “Hold” and an average price target of $68.92.

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.