Capstone Investment Advisors LLC Invests $14.84 Million in Bio-Techne Corp $TECH

Key Points

• Capstone Investment Advisors acquired 210,000 Bio-Techne shares worth approximately $14.84 million, while institutional investors collectively owned 98.95% of the company.
• Analysts remain cautious: Bio-Techne has a consensus “Hold” rating from 17 analysts, with an average price target of $68.92 versus a recent price of $72.47.
• Bio-Techne reported earnings in line with estimates at $0.52 per share and revenue above expectations at $321.19 million; it also sharply increased its quarterly dividend to $0.65 from $0.08.

Capstone Investment Advisors LLC acquired a new stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 210,000 shares of the biotechnology company's stock, valued at approximately $14,836,000. Capstone Investment Advisors LLC owned 0.13% of Bio-Techne at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Comerica Bank boosted its stake in shares of Bio-Techne by 56.4% in the fourth quarter. Comerica Bank now owns 105,481 shares of the biotechnology company's stock worth $6,203,000 after acquiring an additional 38,031 shares during the period. American Capital Management Inc. raised its stake in Bio-Techne by 8.5% during the 1st quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company's stock valued at $53,364,000 after purchasing an additional 79,979 shares during the period. Nicholas Company Inc. raised its stake in Bio-Techne by 6.5% during the 4th quarter. Nicholas Company Inc. now owns 390,794 shares of the biotechnology company's stock valued at $22,983,000 after purchasing an additional 23,785 shares during the period. Principal Financial Group Inc. lifted its holdings in Bio-Techne by 316.7% in the 4th quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company's stock worth $41,373,000 after purchasing an additional 534,676 shares in the last quarter. Finally, S&CO Inc. purchased a new position in Bio-Techne in the 2nd quarter worth approximately $5,412,000. Hedge funds and other institutional investors own 98.95% of the company's stock.

Analysts Set New Price Targets

TECH has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Bio-Techne from a "buy" rating to a "hold" rating and set a $73.00 price objective for the company. in a report on Friday, June 26th. Robert W. Baird boosted their target price on shares of Bio-Techne from $49.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of Bio-Techne from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. Zacks Research raised shares of Bio-Techne from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Finally, Piper Sandler assumed coverage on shares of Bio-Techne in a report on Thursday, June 11th. They issued a "neutral" rating and a $65.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $68.92.

Bio-Techne Trading Up 0.1%

TECH opened at $72.47 on Friday. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 63.02, a P/E/G ratio of 8.62 and a beta of 1.28. The stock's 50 day moving average price is $70.57 and its 200-day moving average price is $59.67. Bio-Techne Corp has a one year low of $43.19 and a one year high of $72.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55.

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

Bio-Techne Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be paid a $0.65 dividend. The ex-dividend date is Monday, August 24th. 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%. Bio-Techne's payout ratio is 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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