170,208 Shares in Bio-Techne Corp $TECH Bought by Arvin Capital Management LP

Arvin Capital Management LP purchased a new position in Bio-Techne Corp (NASDAQ:TECH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 170,208 shares of the biotechnology company’s stock, valued at approximately $8,757,000. Bio-Techne makes up approximately 1.8% of Arvin Capital Management LP’s portfolio, making the stock its 20th biggest position. Arvin Capital Management LP owned 0.11% of Bio-Techne at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TECH. Allianz Asset Management GmbH lifted its stake in Bio-Techne by 200.8% during the 1st quarter. Allianz Asset Management GmbH now owns 41,697 shares of the biotechnology company’s stock valued at $2,445,000 after acquiring an additional 27,833 shares during the period. Avantax Advisory Services Inc. lifted its position in Bio-Techne by 30.4% during the first quarter. Avantax Advisory Services Inc. now owns 13,852 shares of the biotechnology company’s stock valued at $812,000 after purchasing an additional 3,231 shares during the period. Empirical Finance LLC boosted its holdings in Bio-Techne by 7.7% in the first quarter. Empirical Finance LLC now owns 4,399 shares of the biotechnology company’s stock valued at $258,000 after purchasing an additional 314 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Bio-Techne by 0.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,005 shares of the biotechnology company’s stock worth $1,994,000 after purchasing an additional 249 shares during the period. Finally, LPL Financial LLC raised its stake in shares of Bio-Techne by 1.5% during the 1st quarter. LPL Financial LLC now owns 83,068 shares of the biotechnology company’s stock valued at $4,620,000 after buying an additional 1,267 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

TECH stock opened at $65.85 on Wednesday. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $79.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The firm has a market capitalization of $10.26 billion, a PE ratio of 143.16, a price-to-earnings-growth ratio of 3.63 and a beta of 1.51. The business has a 50 day simple moving average of $59.36 and a 200-day simple moving average of $54.70.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $286.56 million during the quarter, compared to analyst estimates of $292.02 million. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. Bio-Techne’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, November 17th. Bio-Techne’s payout ratio is currently 65.31%.

Analyst Ratings Changes

A number of research analysts have issued reports on TECH shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, October 8th. Citigroup upgraded shares of Bio-Techne from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $70.00 in a research note on Thursday, August 21st. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. TD Cowen increased their target price on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada upgraded Bio-Techne from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and an average target price of $70.92.

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.