Trexquant Investment LP Invests $3.75 Million in Bio-Techne Corp $TECH

Key Points

• Trexquant Investment LP invested approximately $3.75 million in Bio-Techne Corp, acquiring 63,870 shares during the first quarter.
• Bio-Techne recently reported earnings of $0.53 per share, exceeding analysts' expectations, with a quarterly revenue of $316.96 million, up 3.6% year-over-year.
• The company has authorized a share buyback program worth $500 million, indicating a belief that its stock is undervalued.

Trexquant Investment LP acquired a new stake in Bio-Techne Corp (NASDAQ:TECH - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 63,870 shares of the biotechnology company's stock, valued at approximately $3,745,000.

Other institutional investors also recently modified their holdings of the company. CX Institutional bought a new stake in shares of Bio-Techne in the 1st quarter valued at $27,000. AlphaQuest LLC bought a new stake in shares of Bio-Techne in the 1st quarter valued at $34,000. Federated Hermes Inc. bought a new stake in shares of Bio-Techne in the 1st quarter valued at $41,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Bio-Techne by 1,239.1% in 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 during the last quarter. Finally, Horizon Financial Services LLC acquired a new position in shares of Bio-Techne during the 1st quarter valued at $69,000. 98.95% of the stock is owned by institutional investors.

Bio-Techne Stock Up 2.8%

TECH traded up $1.49 during trading on Friday, hitting $54.41. 1,745,308 shares of the company's stock were exchanged, compared to its average volume of 1,832,320. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $53.90 and its two-hundred day moving average is $53.71. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $80.95. The stock has a market cap of $8.53 billion, a P/E ratio of 118.29, a PEG ratio of 3.47 and a beta of 1.47.

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, beating the consensus estimate of $0.50 by $0.03. The company had revenue of $316.96 million during 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 firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. As a group, equities analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.08 per share. 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%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Benchmark reiterated a "buy" rating and set a $75.00 target price on shares of Bio-Techne in a research report on Thursday, June 5th. Wells Fargo & Company assumed coverage on shares of Bio-Techne in a research report on Friday, May 30th. They set an "overweight" rating and a $59.00 target price on the stock. Citigroup upgraded shares of Bio-Techne from a "neutral" rating to a "buy" rating and boosted their target price for the company from $55.00 to $70.00 in a research report on Thursday, August 21st. TD Cowen assumed coverage on shares of Bio-Techne in a research report on Wednesday, July 9th. They set a "buy" rating and a $65.00 target price on the stock. Finally, Scotiabank dropped their target price on shares of Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.