Petrus Trust Company LTA Buys Shares of 6,799 Bio-Techne Corp $TECH

Key Points

• Petrus Trust Company LTA acquired 6,799 shares of Bio-Techne Corp, totaling approximately $399,000 in value during the first quarter.
• The company reported an earnings per share (EPS) of $0.53 for the recent quarter, surpassing consensus estimates by $0.03.
• Bio-Techne announced a quarterly dividend of $0.08, resulting in a 0.6% yield, with a dividend payout ratio of 69.57%.

Petrus Trust Company LTA bought a new stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,799 shares of the biotechnology company's stock, valued at approximately $399,000.

Other institutional investors also recently modified their holdings of the company. CX Institutional acquired a new stake in shares of Bio-Techne during the 1st quarter valued at $27,000. AlphaQuest LLC bought a new position in shares of Bio-Techne during the 1st quarter valued at $34,000. Federated Hermes Inc. bought a new position in shares of Bio-Techne during the 1st quarter valued at $41,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Bio-Techne by 1,239.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company's stock valued at $54,000 after purchasing an additional 855 shares in the last quarter. Finally, Horizon Financial Services LLC bought a new position in shares of Bio-Techne during the 1st quarter valued at $69,000. Institutional investors and hedge funds own 98.95% of the company's stock.

Bio-Techne Stock Performance

Shares of TECH opened at $54.41 on Monday. The company has a market capitalization of $8.53 billion, a PE ratio of 118.29, a price-to-earnings-growth ratio of 3.47 and a beta of 1.47. Bio-Techne Corp has a one year low of $46.01 and a one year high of $80.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The company's fifty day moving average price is $53.90 and its 200 day moving average price is $53.63.

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

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, August 18th. Bio-Techne's dividend payout ratio (DPR) is 69.57%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TECH shares. Wall Street Zen downgraded shares of Bio-Techne from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Wells Fargo & Company started coverage on shares of Bio-Techne in a report on Friday, May 30th. They set an "overweight" rating and a $59.00 price target on the stock. TD Cowen started coverage on shares of Bio-Techne in a report on Wednesday, July 9th. They set a "buy" rating and a $65.00 price target on the stock. Royal Bank Of Canada upgraded shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 3rd. Finally, Citigroup upgraded shares of Bio-Techne from a "neutral" rating to a "buy" rating and raised their price target for the company from $55.00 to $70.00 in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bio-Techne has an average rating of "Moderate Buy" and a consensus target price of $70.42.

Bio-Techne Company 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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