4,739 Shares in Bio-Techne Corp $TECH Purchased by Plato Investment Management Ltd

Key Points

• Plato Investment Management Ltd invested approximately $281,000 in Bio-Techne Corp by acquiring 4,739 shares in the first quarter.
• Bio-Techne recently reported earnings of $0.53 per share, exceeding analysts' expectations and marking a revenue increase of 3.6% compared to the previous year.
• The company's stock gained 4.4% recently, with shares opening at $53.21 and a current market capitalization of $8.34 billion.

Plato Investment Management Ltd bought a new stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,739 shares of the biotechnology company's stock, valued at approximately $281,000.

Other large investors also recently made changes to their positions in the company. CX Institutional purchased a new position in shares of Bio-Techne during the 1st quarter worth $27,000. AlphaQuest LLC purchased a new position in shares of Bio-Techne during the 1st quarter worth $34,000. Federated Hermes Inc. purchased a new position in shares of Bio-Techne during the 1st quarter worth $41,000. Caitong International Asset Management Co. Ltd lifted its stake 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 worth $54,000 after purchasing an additional 855 shares during the period. Finally, Horizon Financial Services LLC purchased a new position in shares of Bio-Techne during the 1st quarter worth $69,000. Hedge funds and other institutional investors own 98.95% of the company's stock.

Analysts Set New Price Targets

TECH has been the topic of a number of recent analyst reports. Benchmark reissued a "buy" rating and set a $75.00 price target on shares of Bio-Techne in a research note on Thursday, June 5th. TD Cowen assumed coverage on Bio-Techne in a research report on Wednesday, July 9th. They issued a "buy" rating and a $65.00 target price on the stock. Stephens raised Bio-Techne to a "strong-buy" rating and set a $65.00 target price on the stock in a research report on Tuesday, July 22nd. Royal Bank Of Canada raised Bio-Techne from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, September 3rd. Finally, Wells Fargo & Company assumed coverage on Bio-Techne in a research report on Friday, May 30th. They issued an "overweight" rating and a $59.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Bio-Techne presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.42.

Bio-Techne Stock Up 1.5%

NASDAQ:TECH traded up $0.77 during mid-day trading on Wednesday, hitting $52.55. The company had a trading volume of 304,912 shares, compared to its average volume of 2,055,033. The business has a fifty day simple moving average of $53.90 and a 200-day simple moving average of $53.15. The company has a current ratio of 3.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $80.95. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 114.18, a PEG ratio of 3.29 and a beta of 1.47.

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

Bio-Techne Announces Dividend

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

Bio-Techne 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.