Vanguard Personalized Indexing Management LLC Increases Stake in Bio-Techne Corp $TECH

Vanguard Personalized Indexing Management LLC boosted its stake in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 65.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,268 shares of the biotechnology company's stock after purchasing an additional 11,992 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Bio-Techne were worth $1,557,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. AlphaQuest LLC purchased a new position in Bio-Techne in the 1st quarter worth approximately $34,000. Federated Hermes Inc. purchased a new position in Bio-Techne in the 1st quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd increased its stake in 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 worth $54,000 after purchasing an additional 855 shares during the period. Horizon Financial Services LLC purchased a new position in Bio-Techne in the 1st quarter worth approximately $69,000. Finally, Mather Group LLC. increased its stake in shares of Bio-Techne by 78.4% during the first quarter. Mather Group LLC. now owns 1,215 shares of the biotechnology company's stock valued at $71,000 after buying an additional 534 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Trading Up 0.4%

NASDAQ TECH opened at $61.86 on Friday. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $80.80. The firm has a market capitalization of $9.63 billion, a PE ratio of 134.48, a P/E/G ratio of 3.93 and a beta of 1.48. The stock's 50 day moving average is $55.31 and its 200 day moving average is $52.61.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released 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. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business had revenue of $316.96 million for the quarter, compared to the consensus estimate of $315.14 million. During the same period in the previous year, the company posted $0.49 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TECH. Royal Bank Of Canada raised Bio-Techne from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, September 3rd. Cowen reissued a "buy" rating on shares of Bio-Techne in a research note on Tuesday. Stephens raised Bio-Techne to a "strong-buy" rating and set a $65.00 target price on the stock in a research note on Tuesday, July 22nd. Weiss Ratings reissued a "sell (d+)" rating on shares of Bio-Techne in a research note on Wednesday, October 8th. Finally, Zacks Research raised Bio-Techne from a "strong sell" rating to a "hold" rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Bio-Techne has a consensus rating of "Moderate Buy" and an average price target of $70.58.

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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