Inscription Capital LLC Purchases 12,569 Shares of Bio-Techne Corp $TECH

Inscription Capital LLC raised its position in Bio-Techne Corp (NASDAQ:TECH) by 192.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,084 shares of the biotechnology company’s stock after purchasing an additional 12,569 shares during the period. Inscription Capital LLC’s holdings in Bio-Techne were worth $1,062,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in Bio-Techne by 12.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after buying an additional 113,634 shares in the last quarter. Woodline Partners LP boosted its position in shares of Bio-Techne by 40.0% during the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after acquiring an additional 3,814 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Bio-Techne by 3.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 20,672 shares of the biotechnology company’s stock worth $1,098,000 after purchasing an additional 709 shares in the last quarter. Diversified Trust Co increased its position in shares of Bio-Techne by 12.2% in the second quarter. Diversified Trust Co now owns 15,505 shares of the biotechnology company’s stock worth $798,000 after purchasing an additional 1,681 shares during the last quarter. Finally, CX Institutional raised its stake in Bio-Techne by 569.1% in the second quarter. CX Institutional now owns 3,071 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 2,612 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Bio-Techne stock opened at $69.57 on Wednesday. The firm has a fifty day simple moving average of $61.89 and a two-hundred day simple moving average of $58.14. The company has a quick ratio of 2.81, a current ratio of 4.22 and a debt-to-equity ratio of 0.15. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $79.28. The company has a market capitalization of $10.84 billion, a PE ratio of 141.98, a P/E/G ratio of 4.73 and a beta of 1.47.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $286.56 million for the quarter, compared to the consensus estimate of $292.02 million. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. Research analysts expect that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were given a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 annualized dividend and a yield of 0.5%. Bio-Techne’s payout ratio is presently 65.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen boosted their price target 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. UBS Group upped their target price on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Cowen reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. Wells Fargo & Company lifted their price target on Bio-Techne from $59.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Evercore ISI set a $62.00 price objective on Bio-Techne and gave the company an “in-line” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and an average target price of $70.57.

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.