Sculptor Capital LP Makes New $24.73 Million Investment in Bio-Techne Corp $TECH

Sculptor Capital LP purchased a new position in shares of Bio-Techne Corp (NASDAQ:TECH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 350,000 shares of the biotechnology company’s stock, valued at approximately $24,728,000. Sculptor Capital LP owned approximately 0.22% of Bio-Techne at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Man Group plc purchased a new stake in Bio-Techne in the second quarter worth about $25,434,000. Roberts Glore & Co. Inc. IL bought a new stake in shares of Bio-Techne in the 2nd quarter valued at about $1,522,000. Jupiter Topco LLC purchased a new stake in shares of Bio-Techne in the 2nd quarter worth approximately $4,818,000. Kintayl Capital LP bought a new position in shares of Bio-Techne during the second quarter valued at approximately $1,603,000. Finally, Hsbc Holdings PLC purchased a new position in Bio-Techne during the second quarter valued at approximately $17,110,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.1%

TECH stock opened at $72.33 on Wednesday. The stock has a market capitalization of $11.34 billion, a PE ratio of 62.90, a price-to-earnings-growth ratio of 8.62 and a beta of 1.28. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.62. The company has a quick ratio of 3.35, a current ratio of 4.55 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average of $69.93 and a 200 day moving average of $59.58.

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

Bio-Techne Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be given 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 is Monday, August 24th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s payout ratio is currently 27.83%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TECH. Weiss Ratings restated a “hold (c-)” rating on shares of Bio-Techne in a report on Tuesday, August 4th. Royal Bank Of Canada lowered Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $62.00 to $73.00 in a research report on Thursday, July 9th. Zacks Research cut Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $70.00 to $73.00 in a research note on Friday, June 26th. Finally, Leerink Partners set a $73.00 target price on Bio-Techne in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bio-Techne presently has an average rating of “Hold” and a consensus target price of $68.92.

About Bio-Techne

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.