Amundi Has $129.09 Million Position in Bio-Techne Corp $TECH

Key Points

• Amundi significantly increased its Bio-Techne holdings by 2,426.8% in the second quarter, reaching 1.83 million shares valued at approximately $129.1 million, or 1.17% of the company.
• Analysts remain cautious: Bio-Techne has an average “Hold” rating and a consensus price target of $68.92, below its reported share price of $72.25.
• Bio-Techne’s latest quarterly results met EPS expectations and exceeded revenue estimates, while the company raised its quarterly dividend to $0.65 per share, equivalent to a 3.6% yield.

Amundi boosted its holdings in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 2,426.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,827,241 shares of the biotechnology company's stock after purchasing an additional 1,754,926 shares during the period. Amundi owned 1.17% of Bio-Techne worth $129,095,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TECH. Measured Wealth Private Client Group LLC bought a new stake in Bio-Techne in the third quarter valued at approximately $32,000. iSAM Funds UK Ltd bought a new position in Bio-Techne in the third quarter valued at $33,000. EverSource Wealth Advisors LLC increased its position in shares of Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 562 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Bio-Techne during the 1st quarter worth approximately $37,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Bio-Techne in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 98.95% of the company's stock.

Analysts Set New Price Targets

TECH has been the topic of several analyst reports. Piper Sandler started coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They set a "neutral" rating and a $65.00 price target on the stock. Weiss Ratings raised shares of Bio-Techne from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Robert W. Baird lifted their price target on Bio-Techne from $49.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. William Blair lowered Bio-Techne from an "outperform" rating to a "market perform" rating in a research note on Thursday, June 25th. Finally, TD Cowen cut Bio-Techne from a "buy" rating to a "hold" rating and raised their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $68.92.

Bio-Techne Stock Down 0.1%

Shares of NASDAQ TECH opened at $72.25 on Thursday. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.62. The stock's fifty day moving average is $71.93 and its 200 day moving average is $60.38. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. The stock has a market capitalization of $11.33 billion, a P/E ratio of 62.83, a PEG ratio of 8.61 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.52. The firm had revenue of $321.19 million for the quarter, compared to the consensus estimate of $314.63 million. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Sell-side analysts forecast that Bio-Techne Corp will post 1.76 earnings per share for the current fiscal year.

Bio-Techne Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Monday, August 24th were given a dividend of $0.65 per share. This is an increase from Bio-Techne's previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 24th. Bio-Techne's dividend payout ratio (DPR) is presently 27.83%.

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.

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