Bio-Techne Corp $TECH Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC grew its stake in Bio-Techne Corp (NASDAQ:TECH) by 2,094.5% during the second quarter, Holdings Channel.com reports. The fund owned 91,268 shares of the biotechnology company’s stock after acquiring an additional 87,109 shares during the period. Squarepoint Ops LLC’s holdings in Bio-Techne were worth $6,448,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TECH. Goldman Sachs Group Inc. raised its position in Bio-Techne by 12.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock valued at $62,379,000 after purchasing an additional 113,634 shares during the period. Woodline Partners LP grew its stake in shares of Bio-Techne by 40.0% in the first quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after buying an additional 3,814 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 562 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Bio-Techne by 1,085.7% in the 2nd quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock valued at $5,424,000 after buying an additional 96,527 shares during the period. Finally, Natixis raised its holdings in shares of Bio-Techne by 82.6% in the 2nd quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock valued at $1,286,000 after buying an additional 11,306 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Down 0.2%

Shares of NASDAQ TECH opened at $72.08 on Friday. The stock has a market cap of $11.30 billion, a P/E ratio of 62.68, a PEG ratio of 8.60 and a beta of 1.28. The business’s fifty day simple moving average is $71.96 and its 200-day simple moving average is $60.49. Bio-Techne Corp has a 12-month low of $43.19 and a 12-month high of $72.62. 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 (NASDAQ:TECH) last released its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting the consensus estimate 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 analysts’ expectations of $314.63 million. During the same period in the previous year, the firm posted $0.53 EPS. Bio-Techne’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities 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 given a dividend of $0.65 per share. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 24th. Bio-Techne’s dividend payout ratio is presently 27.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TECH shares. Wells Fargo & Company cut Bio-Techne from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $62.00 to $73.00 in a report on Thursday, August 13th. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Evercore cut shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. TD Cowen lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and raised their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 29th. Finally, Leerink Partners set a $73.00 price objective on shares of Bio-Techne in a report on Thursday, June 25th. Two analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, Bio-Techne presently has a consensus rating of “Hold” and an average price target of $68.92.

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.