WINTON GROUP Ltd Acquires Shares of 67,227 Bio-Techne Corp $TECH

WINTON GROUP Ltd purchased a new position in Bio-Techne Corp (NASDAQ:TECH) during the 2nd quarter, Holdings Channel reports. The fund purchased 67,227 shares of the biotechnology company’s stock, valued at approximately $4,750,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Bio-Techne in the second quarter valued at about $990,924,000. California State Teachers Retirement System boosted its stake in Bio-Techne by 6,800.5% in the second quarter. California State Teachers Retirement System now owns 12,708,310 shares of the biotechnology company’s stock valued at $897,842,000 after acquiring an additional 12,524,146 shares in the last quarter. Morgan Stanley boosted its position in shares of Bio-Techne by 15.3% in the 4th quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock worth $490,794,000 after purchasing an additional 1,107,536 shares in the last quarter. State Street Corp grew its stake in shares of Bio-Techne by 1.0% during the fourth quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock worth $341,806,000 after acquiring an additional 58,639 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Bio-Techne by 12.1% during the 4th quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock worth $337,219,000 after purchasing an additional 618,916 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Bio-Techne Trading Down 0.2%

TECH opened at $72.08 on Friday. Bio-Techne Corp has a one year low of $43.19 and a one year high of $72.62. The business’s 50 day moving average price is $71.96 and its 200 day moving average price is $60.49. The stock has a market capitalization of $11.30 billion, a PE ratio of 62.68, a P/E/G ratio of 8.60 and a beta of 1.28. 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 results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $321.19 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $0.53 EPS. As a group, equities research analysts expect that Bio-Techne Corp will post 1.76 EPS for the current year.

Bio-Techne Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, August 24th. 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%. Bio-Techne’s payout ratio is presently 27.83%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TECH shares. Wells Fargo & Company downgraded Bio-Techne from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $62.00 to $73.00 in a research note on Thursday, August 13th. Leerink Partners set a $73.00 price objective on shares of Bio-Techne in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft cut Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price objective for the company. in a research report on Friday, June 26th. Piper Sandler started coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They set a “neutral” rating and a $65.00 price target for the company. Finally, Weiss Ratings raised Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Two investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.92.

Bio-Techne Company Profile

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.