OneDigital Investment Advisors LLC Makes New Investment in Bio-Techne Corp $TECH

OneDigital Investment Advisors LLC purchased a new position in Bio-Techne Corp (NASDAQ:TECH) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 115,263 shares of the biotechnology company’s stock, valued at approximately $8,143,000.

Several other institutional investors and hedge funds have also made changes to their positions in TECH. Danske Bank A S bought a new stake in Bio-Techne during the fourth quarter worth approximately $29,000. Measured Wealth Private Client Group LLC acquired a new stake in Bio-Techne in the third quarter worth approximately $32,000. iSAM Funds UK Ltd bought a new position in Bio-Techne during the 3rd quarter valued at $33,000. EverSource Wealth Advisors LLC boosted its stake in Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Bio-Techne during the 1st quarter valued at $37,000. 98.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TECH. Stephens set a $73.00 price objective on Bio-Techne and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Royal Bank Of Canada cut Bio-Techne from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $62.00 to $73.00 in a research note on Thursday, July 9th. William Blair lowered Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $70.00 to $73.00 in a research report on Friday, June 26th. Finally, Benchmark lowered shares of Bio-Techne from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.92.

Bio-Techne Price Performance

NASDAQ TECH opened at $72.40 on Monday. The stock has a market capitalization of $11.34 billion, a P/E ratio of 62.96, a P/E/G ratio of 8.62 and a beta of 1.28. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.43. The business’s fifty day moving average is $67.40 and its two-hundred day moving average is $59.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $321.19 million during the quarter, compared to analyst estimates of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The company’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. On average, research analysts forecast that Bio-Techne Corp will post 1.76 earnings per share for the current fiscal year.

Bio-Techne Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.65 per share. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 24th. Bio-Techne’s dividend payout ratio (DPR) is currently 27.83%.

Bio-Techne Company 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.