Numerai GP LLC Makes New Investment in Bio-Techne Co. (NASDAQ:TECH)

Numerai GP LLC purchased a new stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,789 shares of the biotechnology company's stock, valued at approximately $489,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock valued at $38,000 after purchasing an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Bio-Techne in the fourth quarter valued at approximately $41,000. GeoWealth Management LLC acquired a new stake in shares of Bio-Techne in the fourth quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 253 shares during the period. Finally, Kiely Wealth Advisory Group Inc. boosted its stake in shares of Bio-Techne by 1,355.6% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 1,048 shares of the biotechnology company's stock worth $81,000 after acquiring an additional 976 shares during the period. Institutional investors own 98.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TECH shares. Evercore ISI initiated coverage on Bio-Techne in a report on Tuesday, March 18th. They set an "outperform" rating and a $75.00 price target for the company. Baird R W downgraded shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. KeyCorp reissued a "sector weight" rating on shares of Bio-Techne in a report on Wednesday, April 9th. Scotiabank raised their price objective on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their target price on Bio-Techne from $75.00 to $60.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $73.44.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH traded up $0.91 on Friday, reaching $49.15. 1,615,986 shares of the company's stock were exchanged, compared to its average volume of 1,277,231. Bio-Techne Co. has a twelve month low of $46.01 and a twelve month high of $84.22. The company has a fifty day moving average of $53.46 and a 200-day moving average of $65.50. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 49.65, a PEG ratio of 2.88 and a beta of 1.46. The company has a current ratio of 3.94, a quick ratio of 2.77 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.05. The business had revenue of $316.18 million for the quarter, compared to the consensus estimate of $317.92 million. Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. On average, research analysts predict that Bio-Techne Co. will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Monday, May 19th. Bio-Techne's payout ratio is currently 39.02%.

Bio-Techne announced that its board has authorized a stock buyback program on Wednesday, May 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the biotechnology company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

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.