Caprock Group LLC Takes $1.71 Million Position in Bio-Techne Corp $TECH

Caprock Group LLC purchased a new position in Bio-Techne Corp (NASDAQ:TECH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 31,302 shares of the biotechnology company’s stock, valued at approximately $1,710,000.

Several other hedge funds have also recently modified their holdings of TECH. Goldman Sachs Group Inc. increased its holdings in Bio-Techne by 12.0% in the 1st 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 during the period. Woodline Partners LP raised its stake in Bio-Techne by 40.0% in the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after purchasing an additional 3,814 shares during the last quarter. Aberdeen Group plc raised its position in shares of Bio-Techne by 2.9% in the second quarter. Aberdeen Group plc now owns 97,128 shares of the biotechnology company’s stock valued at $4,997,000 after buying an additional 2,736 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Bio-Techne by 65.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,268 shares of the biotechnology company’s stock valued at $1,557,000 after acquiring an additional 11,992 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Bio-Techne by 115.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,769 shares of the biotechnology company’s stock worth $451,000 after purchasing an additional 4,693 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TECH has been the topic of several recent research reports. Robert W. Baird set a $70.00 price target on shares of Bio-Techne in a research report on Thursday, February 5th. Wells Fargo & Company lifted their target price on shares of Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. TD Cowen reissued a “buy” rating and issued a $80.00 price target (up previously from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Evercore raised their price target on shares of Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Finally, Argus upped their price target on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.77.

Bio-Techne Trading Up 0.7%

TECH opened at $59.93 on Friday. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $72.16. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $63.25 and a 200-day simple moving average of $59.57. The firm has a market cap of $9.38 billion, a P/E ratio of 117.51, a P/E/G ratio of 3.95 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $295.88 million for the quarter, compared to analyst estimates of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.Bio-Techne’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. On average, equities analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 16th will be issued a $0.08 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Bio-Techne’s payout ratio is 62.75%.

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.