WINTON GROUP Ltd Sells 69,994 Shares of Bio-Techne Corp $TECH

Key Points

• WINTON GROUP Ltd cut its stake in Bio-Techne by 57.8%, selling 69,994 shares and leaving it with 51,100 shares valued at about $2.84 million; institutional investors now own 98.95% of the stock.
• Wall Street sentiment is positive with a consensus rating of Moderate Buy and a consensus target of $72.77, well above the recent open price of $52.82, while several brokers have recently raised price targets.
• Recent results showed a quarterly beat—EPS of $0.46 versus $0.43 expected and revenue of $295.88M—while the company pays a quarterly dividend of $0.08 (annualized yield ~0.6%).

WINTON GROUP Ltd reduced its position in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 57.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 51,100 shares of the biotechnology company's stock after selling 69,994 shares during the period. WINTON GROUP Ltd's holdings in Bio-Techne were worth $2,843,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TECH. Blue Trust Inc. lifted its position in shares of Bio-Techne by 109.7% in the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company's stock valued at $25,000 after buying an additional 237 shares during the last quarter. Allworth Financial LP lifted its holdings in Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 248 shares during the last quarter. Sound Income Strategies LLC bought a new position in Bio-Techne during the third quarter worth $37,000. Federated Hermes Inc. bought a new position in shares of Bio-Techne in the third quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company's stock worth $35,000 after buying an additional 562 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TECH. 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. Robert W. Baird set a $70.00 price objective on Bio-Techne in a report on Thursday, February 5th. Argus upped their target price on Bio-Techne from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, November 20th. Zacks Research upgraded Bio-Techne from a "strong sell" rating to a "hold" rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company boosted their price target on Bio-Techne from $70.00 to $76.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $72.77.

Bio-Techne Stock Down 3.7%

TECH stock opened at $52.82 on Wednesday. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $72.16. The business has a 50-day simple moving average of $62.66 and a 200 day simple moving average of $60.04. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. The company has a market cap of $8.26 billion, a PE ratio of 103.57, a price-to-earnings-growth ratio of 3.64 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $295.88 million for the quarter, compared to analyst estimates of $290.20 million. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The business's quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Sell-side analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 16th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne's payout ratio is currently 62.75%.

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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