WINTON GROUP Ltd Takes $4.75 Million Position in Bio-Techne Corp $TECH

Key Points

• WINTON GROUP Ltd acquired 67,227 Bio-Techne shares worth approximately $4.75 million in the second quarter. Institutional investors collectively own 98.95% of the company.
• Analysts largely maintain a cautious view: 15 rate Bio-Techne “Hold” and two rate it “Buy,” with a consensus price target of $68.92. The stock recently traded at $72.08, near its 12-month high.
• Bio-Techne reported quarterly revenue of $321.19 million, exceeding estimates, while EPS matched expectations at $0.52. The company also increased its quarterly dividend to $0.65, equivalent to a 3.6% annualized yield.

WINTON GROUP Ltd purchased a new position in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 67,227 shares of the biotechnology company's stock, valued at approximately $4,750,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Capital Management Inc. raised its holdings in Bio-Techne by 8.5% during the 1st quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company's stock valued at $53,364,000 after buying an additional 79,979 shares during the last quarter. S&CO Inc. purchased a new stake in Bio-Techne in the second quarter worth about $5,412,000. Ceredex Value Advisors LLC bought a new stake in shares of Bio-Techne during the second quarter valued at approximately $8,488,000. P Schoenfeld Asset Management LP bought a new stake in shares of Bio-Techne during the 2nd quarter valued at $4,592,250. Finally, Dimensional Fund Advisors LP grew its holdings in Bio-Techne by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,973,136 shares of the biotechnology company's stock worth $103,118,000 after purchasing an additional 178,843 shares during the period. Institutional investors own 98.95% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stephens set a $73.00 price target on Bio-Techne and gave the company an "equal weight" rating in a report on Friday, June 26th. Royal Bank Of Canada downgraded Bio-Techne from an "outperform" rating to a "sector perform" rating and raised their price target for the stock from $62.00 to $73.00 in a research note on Thursday, July 9th. Piper Sandler began coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They set a "neutral" rating and a $65.00 target price for the company. Leerink Partners set a $73.00 price target on Bio-Techne in a research report on Thursday, June 25th. Finally, Citigroup downgraded Bio-Techne from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $70.00 to $73.00 in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $68.92.

Bio-Techne Trading Down 0.2%

Shares of TECH stock opened at $72.08 on Friday. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09. Bio-Techne Corp has a 12-month low of $43.19 and a 12-month high of $72.62. The stock's 50-day moving average price is $71.96 and its 200-day moving average price is $60.49. The stock has a market capitalization of $11.30 billion, a price-to-earnings ratio of 62.68, a price-to-earnings-growth ratio of 8.60 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, meeting analysts' consensus estimates of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The firm had revenue of $321.19 million during the quarter, compared to the consensus estimate of $314.63 million. During the same period in the prior year, the company earned $0.53 EPS. The company's quarterly revenue was up 1.3% compared to the same quarter last year. Equities research analysts predict that Bio-Techne Corp will post 1.76 EPS for the current fiscal year.

Bio-Techne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 24th. This is a positive change from Bio-Techne's previous quarterly dividend of $0.08. Bio-Techne's dividend payout ratio is 27.83%.

About Bio-Techne

Bio-Techne Corporation NASDAQ: TECH is a global life sciences company that develops and supplies research, diagnostic and bioprocessing products. Its portfolio includes proteins, antibodies, immunoassays, molecular biology reagents, cell and gene therapy tools, and instruments used by academic, pharmaceutical, biotechnology and diagnostic laboratories.

The company operates through brands including R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics. Its products support applications such as protein analysis, spatial biology, single-cell research, biomarker discovery, drug development and the manufacture of cell and gene therapies.

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