WCM Investment Management LLC Makes New $11.35 Million Investment in Bio-Techne Corp $TECH

WCM Investment Management LLC purchased a new stake in Bio-Techne Corp (NASDAQ:TECH) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 217,380 shares of the biotechnology company’s stock, valued at approximately $11,354,000. WCM Investment Management LLC owned approximately 0.14% of Bio-Techne as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of TECH. Callan Family Office LLC purchased a new stake in Bio-Techne during the third quarter valued at approximately $217,000. Atlantic Union Bankshares Corp acquired a new position in shares of Bio-Techne during the third quarter worth $61,000. Jones Financial Companies Lllp lifted its holdings in shares of Bio-Techne by 7.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 5,813 shares of the biotechnology company’s stock valued at $302,000 after purchasing an additional 418 shares during the last quarter. State of Wyoming lifted its holdings in shares of Bio-Techne by 7.4% during the 3rd quarter. State of Wyoming now owns 4,630 shares of the biotechnology company’s stock valued at $258,000 after purchasing an additional 320 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Bio-Techne by 483.9% in the 3rd quarter. UMB Bank n.a. now owns 1,740 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 1,442 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Down 1.0%

Shares of Bio-Techne stock opened at $64.63 on Wednesday. The stock has a market cap of $10.07 billion, a PE ratio of 131.90, a price-to-earnings-growth ratio of 4.50 and a beta of 1.48. The firm has a fifty day moving average price of $63.15 and a 200 day moving average price of $59.14. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $79.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.22 and a quick ratio of 2.81.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $286.56 million for the quarter, compared to the consensus estimate of $292.02 million. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Equities research analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on TECH shares. Zacks Research lowered Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. Evercore ISI set a $62.00 price target on Bio-Techne and gave the stock an “in-line” rating in a research note on Monday, January 5th. TD Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a research note on Wednesday, January 21st. Finally, Argus boosted their target price on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.57.

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.