Sivik Global Healthcare LLC Takes $2.65 Million Position in Bio-Techne Corp $TECH

Key Points

• Sivik Global Healthcare LLC established a new position in Bio‑Techne (NASDAQ:TECH) in Q4, buying 45,000 shares valued at about $2.65 million.
• Bio‑Techne beat Q4 EPS estimates ($0.46 vs. $0.43) on revenue of $295.9M (down 0.4% YoY); the company has a market cap of $8.42B, a P/E around 105.6, and pays a $0.08 quarterly dividend (annualized $0.32, ~0.6% yield).
• Analysts hold a consensus rating of “Moderate Buy” with a consensus target of $72.77, and several firms (UBS, Citi, Deutsche Bank, TD Cowen, Benchmark) maintaining or raising Buy ratings and price targets.

Sivik Global Healthcare LLC acquired a new stake in Bio-Techne Corp (NASDAQ:TECH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 45,000 shares of the biotechnology company's stock, valued at approximately $2,646,000.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Bio-Techne by 109.7% in the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 237 shares in the last quarter. eCIO Inc. bought a new position in shares of Bio-Techne in the 4th quarter valued at about $30,000. Measured Wealth Private Client Group LLC acquired a new stake in Bio-Techne in the third quarter valued at $32,000. iSAM Funds UK Ltd acquired a new stake in Bio-Techne in the third quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company's stock valued at $35,000 after acquiring an additional 562 shares during the last quarter. Institutional investors own 98.95% of the company's stock.

Bio-Techne Stock Up 0.1%

TECH opened at $53.83 on Wednesday. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $72.16. The stock's fifty day simple moving average is $57.02 and its 200 day simple moving average is $59.82. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $8.42 billion, a PE ratio of 105.55, a price-to-earnings-growth ratio of 3.49 and a beta of 1.49.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The business had revenue of $295.88 million for the quarter, compared to analysts' expectations of $290.20 million. During the same quarter in the prior year, the business earned $0.42 EPS. The firm's revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th 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 Friday, February 13th. Bio-Techne's dividend payout ratio is 62.75%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD Cowen reiterated a "buy" rating on shares of Bio-Techne in a research note on Tuesday, March 17th. Benchmark reiterated a "buy" rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft set a $72.00 price target on shares of Bio-Techne and gave the company a "buy" rating in a research note on Friday, December 12th. UBS Group reiterated a "buy" rating and issued a $79.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Finally, Citigroup reiterated a "buy" rating and issued a $80.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.77.

Bio-Techne Company 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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