VCI Wealth Management LLC Buys Shares of 14,573 Bio-Techne Corp $TECH

Key Points

• VCI Wealth Management bought a new stake in Bio-Techne, purchasing 14,573 shares valued at about $762,000 in the first quarter. Other institutional investors also adjusted holdings, and institutions now own 98.95% of the stock.
• Bio-Techne shares were trading around $71.00, near their 52-week high of $72.16, with the company carrying a market cap of $11.12 billion. The stock has strong liquidity and low leverage, but it also trades at a high P/E ratio of 102.90.
• The company recently missed earnings and revenue estimates for the quarter, reporting $0.53 EPS versus $0.55 expected and revenue of $311.42 million versus $316.11 million expected. Analyst sentiment is mixed, with an average rating of Hold and an average price target of $68.07.

VCI Wealth Management LLC purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 14,573 shares of the biotechnology company's stock, valued at approximately $762,000.

Several other institutional investors and hedge funds have also modified their holdings of TECH. Louisiana State Employees Retirement System bought a new stake in shares of Bio-Techne during the 1st quarter worth $418,000. Contravisory Investment Management Inc. increased its stake in Bio-Techne by 1,189.8% in the first quarter. Contravisory Investment Management Inc. now owns 16,148 shares of the biotechnology company's stock valued at $844,000 after acquiring an additional 14,896 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of Bio-Techne by 8.3% in the 1st quarter. AdvisorNet Financial Inc now owns 4,055 shares of the biotechnology company's stock worth $212,000 after buying an additional 312 shares in the last quarter. Diversified Trust Co raised its stake in Bio-Techne by 25.2% during the first quarter. Diversified Trust Co now owns 15,916 shares of the biotechnology company's stock worth $832,000 after acquiring an additional 3,206 shares in the last quarter. Finally, MidFirst Bank acquired a new stake in shares of Bio-Techne during the 4th quarter worth about $223,000. Institutional investors and hedge funds own 98.95% of the company's stock.

Bio-Techne Stock Up 0.4%

Shares of Bio-Techne stock opened at $71.00 on Friday. The business has a fifty day simple moving average of $52.95 and a 200 day simple moving average of $57.09. The stock has a market cap of $11.12 billion, a PE ratio of 102.90, a price-to-earnings-growth ratio of 6.85 and a beta of 1.37. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. Research analysts predict that Bio-Techne Corp will post 1.65 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, May 18th. Bio-Techne's dividend payout ratio (DPR) is currently 46.38%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler assumed coverage on Bio-Techne in a report on Thursday, June 11th. They issued a "neutral" rating and a $65.00 price target for the company. Evercore raised Bio-Techne from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Leerink Partners set a $73.00 price target on Bio-Techne in a report on Thursday. Zacks Research lowered Bio-Techne from a "hold" rating to a "strong sell" rating in a research report on Monday, June 8th. Finally, Citigroup cut Bio-Techne from a "buy" rating to a "neutral" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Bio-Techne presently has an average rating of "Hold" and an average price target of $68.07.

Trending Headlines about Bio-Techne

Here are the key news stories impacting Bio-Techne this week:

• Positive Sentiment: Merck KGaA’s all-cash buyout offer gives Bio-Techne shareholders a clear takeover price and a premium valuation anchor. Merck KGaA, Darmstadt, Germany, Agrees to Acquire Bio-Techne, Strengthening Leadership Position in Fast-Growing Life Sciences Markets
• Positive Sentiment: Analyst actions were mixed but included an upgrade from Evercore to strong-buy and a price-target increase from Baird to $73, reinforcing the view that the shares were moving toward deal value.
• Neutral Sentiment: Unusual call-option activity suggests traders are positioning for further merger-related volatility, but that activity does not change the takeover terms.
• Negative Sentiment: Shareholder-law-firm investigations have begun over whether the Merck deal provides a fair price, which could add some headline risk and scrutiny around the transaction. SHAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Bio-Techne Corporation NASDAQ: TECH

Bio-Techne 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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