Stephens Inc. AR Acquires 367 Shares of Bio-Techne Corp $TECH

Stephens Inc. AR boosted its position in Bio-Techne Corp (NASDAQ:TECH) by 4.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,149 shares of the biotechnology company’s stock after acquiring an additional 367 shares during the period. Stephens Inc. AR’s holdings in Bio-Techne were worth $419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC bought a new stake in Bio-Techne in the 1st quarter valued at about $34,000. Federated Hermes Inc. bought a new stake in Bio-Techne in the 1st quarter valued at about $41,000. Hoese & Co LLP bought a new stake in Bio-Techne in the 2nd quarter valued at about $51,000. Caitong International Asset Management Co. Ltd raised its stake in Bio-Techne by 1,239.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 855 shares during the period. Finally, Horizon Financial Services LLC bought a new stake in Bio-Techne in the 1st quarter valued at about $69,000. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Down 0.2%

Shares of TECH opened at $65.90 on Friday. The firm has a market cap of $10.26 billion, a P/E ratio of 143.26, a P/E/G ratio of 3.85 and a beta of 1.48. The stock has a 50 day simple moving average of $56.44 and a two-hundred day simple moving average of $53.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $80.80.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. The business had revenue of $316.96 million during the quarter, compared to analyst estimates of $315.14 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.Bio-Techne’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share. On average, analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.08 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.32 annualized dividend and a yield of 0.5%. Bio-Techne’s payout ratio is presently 69.57%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TECH shares. Royal Bank Of Canada upgraded Bio-Techne from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 3rd. Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Cowen reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, October 14th. TD Cowen upped their price target on Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, Scotiabank decreased their price target on Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.58.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.