Callan Family Office LLC bought a new stake in Bio-Techne Corp (NASDAQ:TECH - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,045 shares of the biotechnology company's stock, valued at approximately $1,557,000.
Other institutional investors also recently added to or reduced their stakes in the company. Danske Bank A S bought a new stake in shares of Bio-Techne in the fourth quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC bought a new position in Bio-Techne during the third quarter worth $32,000. iSAM Funds UK Ltd bought a new position in Bio-Techne during the third quarter worth $33,000. EverSource Wealth Advisors LLC raised its stake in Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 562 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Bio-Techne during the 1st quarter valued at $37,000. 98.95% of the stock is owned by institutional investors.
Analysts Set New Price Targets
TECH has been the topic of several research analyst reports. William Blair lowered shares of Bio-Techne from an "outperform" rating to a "market perform" rating in a research report on Thursday, June 25th. Piper Sandler initiated coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They set a "neutral" rating and a $65.00 price objective for the company. TD Cowen cut shares of Bio-Techne from a "buy" rating to a "hold" rating and increased their target price for the company from $65.00 to $73.00 in a research note on Monday, June 29th. Citigroup downgraded Bio-Techne from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $70.00 to $73.00 in a research report on Friday, June 26th. Finally, Evercore lowered Bio-Techne from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $68.92.
View Our Latest Report on Bio-Techne
Bio-Techne Stock Performance
Shares of Bio-Techne stock opened at $72.32 on Monday. The firm has a market capitalization of $11.34 billion, a PE ratio of 62.89, a price-to-earnings-growth ratio of 8.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.55 and a quick ratio of 3.35. The company's fifty day moving average price is $69.28 and its two-hundred day moving average price is $59.50. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.62.
Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The company had revenue of $321.19 million during the quarter, compared to the consensus estimate of $314.63 million. During the same period last year, the firm earned $0.53 EPS. The firm's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts expect that Bio-Techne Corp will post 1.76 EPS for the current year.
Bio-Techne Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.65 per share. This is a positive change from Bio-Techne's previous quarterly dividend of $0.08. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, August 24th. Bio-Techne's dividend payout ratio is 27.83%.
About Bio-Techne
(
Free Report)
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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