Values First Advisors Inc. Acquires 8,638 Shares of Bio-Techne Corp $TECH

Key Points

• Values First Advisors Inc. increased its stake in Bio-Techne Corp by 31.5%, acquiring an additional 8,638 shares, bringing their total to 36,088 shares worth approximately $1.86 million.
• Analysts have mixed views on Bio-Techne, with ratings ranging from Strong Buy to Sell, and an average price target of $70.58.
• Bio-Techne announced a quarterly dividend of $0.08 per share, translating to an annual yield of 0.5% with a payout ratio of 69.57%.

Values First Advisors Inc. boosted its holdings in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 31.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,088 shares of the biotechnology company's stock after buying an additional 8,638 shares during the period. Bio-Techne makes up about 1.0% of Values First Advisors Inc.'s holdings, making the stock its 22nd largest holding. Values First Advisors Inc.'s holdings in Bio-Techne were worth $1,857,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. CX Institutional bought a new stake in shares of Bio-Techne in the first quarter worth about $27,000. Exchange Traded Concepts LLC grew its stake in shares of Bio-Techne by 21.2% in the first quarter. Exchange Traded Concepts LLC now owns 2,803 shares of the biotechnology company's stock worth $164,000 after purchasing an additional 490 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Bio-Techne by 4.6% in the first quarter. Janney Montgomery Scott LLC now owns 11,210 shares of the biotechnology company's stock worth $657,000 after purchasing an additional 490 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Bio-Techne by 2.2% during the 1st quarter. State of Alaska Department of Revenue now owns 18,524 shares of the biotechnology company's stock valued at $1,086,000 after acquiring an additional 405 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Bio-Techne by 4.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 67,166 shares of the biotechnology company's stock valued at $3,938,000 after acquiring an additional 2,929 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

Wall Street Analysts Forecast Growth

TECH has been the topic of a number of analyst reports. Zacks Research raised Bio-Techne from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. Weiss Ratings restated a "sell (d+)" rating on shares of Bio-Techne in a report on Wednesday, October 8th. 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. Cowen restated a "buy" rating on shares of Bio-Techne in a report on Tuesday. Finally, Evercore ISI boosted their price objective on shares of Bio-Techne from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Bio-Techne currently has an average rating of "Moderate Buy" and an average price target of $70.58.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $61.60 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46. The firm's 50 day simple moving average is $55.08 and its 200-day simple moving average is $52.58. Bio-Techne Corp has a one year low of $46.01 and a one year high of $80.80. The firm has a market cap of $9.59 billion, a PE ratio of 133.92, a price-to-earnings-growth ratio of 3.80 and a beta of 1.48.

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

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 18th. Bio-Techne's dividend payout ratio (DPR) is 69.57%.

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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