American Capital Management Inc. Boosts Stock Holdings in Bio-Techne Corp $TECH

Key Points

• American Capital Management increased its Bio-Techne stake by 8.5% in the first quarter, owning 1.02 million shares worth approximately $53.4 million. Institutional investors collectively hold 98.95% of the company.
• Bio-Techne’s latest quarterly results fell slightly short of expectations, with EPS of $0.53 versus $0.55 expected and revenue of $311.4 million versus $316.1 million expected; revenue declined 1.5% year over year.
• The stock opened at $71.62, near its 52-week high, while analysts maintain a consensus “Hold” rating with an average price target of $68.08. The company also pays a quarterly dividend of $0.08, yielding about 0.4% annually.

American Capital Management Inc. increased its position in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,021,128 shares of the biotechnology company's stock after purchasing an additional 79,979 shares during the quarter. Bio-Techne makes up about 2.9% of American Capital Management Inc.'s holdings, making the stock its 11th biggest position. American Capital Management Inc. owned approximately 0.65% of Bio-Techne worth $53,364,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in Bio-Techne during the fourth quarter valued at about $29,000. eCIO Inc. purchased a new stake in shares of Bio-Techne during the 4th quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC bought a new position in Bio-Techne in the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd bought a new position in Bio-Techne in the 3rd quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC grew its stake 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 in the last quarter. 98.95% of the stock is owned by institutional investors.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $71.62 on Tuesday. The business has a 50 day moving average of $61.03 and a 200 day moving average of $58.84. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 103.80, a PEG ratio of 8.53 and a beta of 1.29. Bio-Techne Corp has a 1-year low of $43.19 and a 1-year high of $72.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business had revenue of $311.42 million for the quarter, compared to analysts' expectations of $316.11 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The business's quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts predict that Bio-Techne Corp will post 1.65 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.08 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Bio-Techne's dividend payout ratio is 46.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Bio-Techne from a "buy" rating to a "hold" rating and set a $73.00 target price on the stock. in a research report on Friday, June 26th. TD Cowen lowered Bio-Techne from a "buy" rating to a "hold" rating and boosted their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 29th. Stifel Nicolaus set a $50.00 price objective on Bio-Techne in a research note on Thursday, May 7th. Zacks Research cut Bio-Techne from a "hold" rating to a "strong sell" rating in a report on Monday, June 8th. Finally, Robert W. Baird raised their target price on Bio-Techne from $49.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $68.08.

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.

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