Inceptionr LLC Makes New Investment in Bio-Techne Corp $TECH

Inceptionr LLC purchased a new stake in Bio-Techne Corp (NASDAQ:TECH) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,832 shares of the biotechnology company’s stock, valued at approximately $409,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Bio-Techne by 349.8% in the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after buying an additional 3,978,026 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Bio-Techne by 164.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock worth $235,994,000 after acquiring an additional 2,495,328 shares during the period. Norges Bank acquired a new stake in shares of Bio-Techne in the 4th quarter worth approximately $99,494,000. Durable Capital Partners LP purchased a new position in Bio-Techne in the 3rd quarter valued at approximately $77,658,000. Finally, First Trust Advisors LP increased its stake in Bio-Techne by 2,874.9% in the 1st quarter. First Trust Advisors LP now owns 1,281,792 shares of the biotechnology company’s stock valued at $66,986,000 after purchasing an additional 1,238,705 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

NASDAQ TECH opened at $71.60 on Monday. The business’s 50-day moving average price is $60.48 and its 200 day moving average price is $58.79. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16. The company has a market capitalization of $11.21 billion, a PE ratio of 103.77, a price-to-earnings-growth ratio of 8.53 and a beta of 1.29.

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

Bio-Techne Announces Dividend

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

Analyst Ratings Changes

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 target price on the stock. in a research report on Friday, June 26th. Benchmark downgraded Bio-Techne from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Leerink Partners set a $73.00 price objective on shares of Bio-Techne in a research report on Thursday, June 25th. Piper Sandler initiated coverage on shares of Bio-Techne in a research note on Thursday, June 11th. They issued a “neutral” rating and a $65.00 price objective on the stock. Finally, Royal Bank Of Canada downgraded shares of 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 report on Thursday, July 9th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.08.

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.