Maverick Capital Ltd. Has $247.70 Million Stock Holdings in Bio-Techne Corp $TECH

Maverick Capital Ltd. raised its stake in Bio-Techne Corp (NASDAQ:TECH) by 23.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,739,721 shares of the biotechnology company’s stock after purchasing an additional 888,798 shares during the period. Bio-Techne accounts for 2.9% of Maverick Capital Ltd.’s holdings, making the stock its 12th biggest holding. Maverick Capital Ltd. owned 3.03% of Bio-Techne worth $247,698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Danske Bank A S bought a new stake in Bio-Techne in the 4th quarter valued at about $29,000. eCIO Inc. bought a new position in shares of Bio-Techne in the 4th quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new position in shares of Bio-Techne in the 3rd quarter worth $32,000. iSAM Funds UK Ltd acquired a new stake in Bio-Techne in the 3rd quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC grew its position in Bio-Techne by 506.3% in 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 during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

TECH opened at $71.62 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 103.80, a P/E/G ratio of 8.53 and a beta of 1.29. The firm’s fifty day moving average price is $61.03 and its two-hundred day moving average price is $58.84. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.16.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm had revenue of $311.42 million during the quarter, compared to analysts’ expectations of $316.11 million. During the same quarter in the prior year, the company earned $0.56 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, analysts anticipate that Bio-Techne Corp will post 1.65 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a $0.08 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TECH. Piper Sandler began coverage on shares of Bio-Techne in a report on Thursday, June 11th. They set a “neutral” rating and a $65.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Benchmark downgraded Bio-Techne from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Stephens set a $73.00 price objective on Bio-Techne and gave the stock an “equal weight” rating in a report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $68.08.

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.