Dundas Partners LLP Invests $553,000 in Bio-Techne Corp $TECH

Dundas Partners LLP bought a new stake in Bio-Techne Corp (NASDAQ:TECH) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,936 shares of the biotechnology company’s stock, valued at approximately $553,000.

Several other hedge funds also recently modified their holdings of TECH. Blue Trust Inc. grew its holdings in Bio-Techne by 109.7% in the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 237 shares during the period. Allworth Financial LP raised its position in Bio-Techne by 68.1% in the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 248 shares during the period. Sound Income Strategies LLC acquired a new position in Bio-Techne during the 3rd quarter worth approximately $37,000. Federated Hermes Inc. acquired a new position in shares of Bio-Techne during the third quarter worth $37,000. Finally, EverSource Wealth Advisors LLC boosted its position in Bio-Techne by 506.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 562 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Trading Down 3.6%

Shares of NASDAQ TECH opened at $53.89 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 105.67, a PEG ratio of 3.58 and a beta of 1.48. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $72.16. The business has a 50 day simple moving average of $62.87 and a 200 day simple moving average of $60.06.

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, beating 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 business had revenue of $295.88 million for the quarter, compared to analyst estimates of $290.20 million. During the same period last year, the business posted $0.42 EPS. Bio-Techne’s revenue was down .4% compared to the same quarter last year. On average, research analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on TECH shares. Argus raised their price objective on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 20th. Benchmark restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company upped their price target 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.77.

Bio-Techne 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.