Bio-Techne Target of Unusually High Options Trading (NASDAQ:TECH)

Bio-Techne Corp (NASDAQ:TECH) saw some unusual options trading on Tuesday. Investors bought 10,021 put options on the stock. This represents an increase of approximately 463% compared to the typical daily volume of 1,779 put options.

Bio-Techne Stock Up 0.8%

Bio-Techne stock opened at $52.43 on Wednesday. The firm has a 50 day moving average price of $60.27 and a 200-day moving average price of $59.80. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. Bio-Techne has a twelve month low of $46.01 and a twelve month high of $72.16. The company has a market capitalization of $8.20 billion, a P/E ratio of 102.81, a P/E/G ratio of 3.42 and a beta of 1.48.

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

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s dividend payout ratio is currently 62.75%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TECH shares. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on shares of Bio-Techne and gave the company a “buy” rating in a report on Friday, December 12th. Benchmark reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, February 3rd. Wells Fargo & Company increased their price target on Bio-Techne from $70.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Evercore lifted their price objective 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, Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

Institutional Investors Weigh In On Bio-Techne

Several large investors have recently added to or reduced their stakes in the company. MidFirst Bank purchased a new stake in Bio-Techne during the 4th quarter worth about $223,000. Alberta Investment Management Corp bought a new stake in shares of Bio-Techne during the fourth quarter valued at about $1,300,000. Wellington Management Group LLP increased its position in shares of Bio-Techne by 12.1% during the fourth quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock valued at $337,219,000 after buying an additional 618,916 shares during the period. Alpine Peaks Capital LP lifted its holdings in shares of Bio-Techne by 43.1% in the fourth quarter. Alpine Peaks Capital LP now owns 51,500 shares of the biotechnology company’s stock worth $3,029,000 after buying an additional 15,500 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Bio-Techne by 20.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 118,799 shares of the biotechnology company’s stock worth $6,987,000 after buying an additional 20,423 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

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.