20,000 Shares in Bio-Techne Corp $TECH Purchased by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC purchased a new stake in Bio-Techne Corp (NASDAQ:TECH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,000 shares of the biotechnology company's stock, valued at approximately $1,029,000.

Other hedge funds have also recently bought and sold shares of the company. Valeo Financial Advisors LLC acquired a new position in shares of Bio-Techne in the second quarter valued at approximately $210,000. Hilltop National Bank bought a new stake in Bio-Techne in the 2nd quarter valued at $74,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Bio-Techne by 5.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,646 shares of the biotechnology company's stock valued at $1,062,000 after buying an additional 1,016 shares in the last quarter. Lecap Asset Management Ltd. increased its position in Bio-Techne by 7.5% during the 2nd quarter. Lecap Asset Management Ltd. now owns 14,606 shares of the biotechnology company's stock worth $751,000 after buying an additional 1,017 shares during the period. Finally, Truist Financial Corp increased its position in Bio-Techne by 20.9% during the 2nd quarter. Truist Financial Corp now owns 17,671 shares of the biotechnology company's stock worth $909,000 after buying an additional 3,060 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on TECH shares. Weiss Ratings restated a "sell (d+)" rating on shares of Bio-Techne in a research note on Saturday, September 27th. Royal Bank Of Canada raised shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 3rd. Stephens raised shares of Bio-Techne to a "strong-buy" rating and set a $65.00 target price on the stock in a report on Tuesday, July 22nd. Scotiabank dropped their price target on shares of Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating for the company in a research report on Friday, July 11th. Finally, TD Cowen assumed coverage on Bio-Techne in a research note on Wednesday, July 9th. They issued a "buy" rating and a $65.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Bio-Techne has a consensus rating of "Moderate Buy" and an average price target of $70.42.

Bio-Techne Trading Up 1.4%

Shares of TECH stock opened at $62.95 on Monday. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $80.80. The stock's fifty day simple moving average is $54.14 and its 200 day simple moving average is $52.46. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $9.80 billion, a P/E ratio of 136.85, a P/E/G ratio of 4.01 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.03. The firm had revenue of $316.96 million for the quarter, compared to analyst estimates of $315.14 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. As a group, sell-side analysts predict that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 18th. Bio-Techne's payout ratio is presently 69.57%.

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.

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