120,139 Shares in Bio-Techne Corp $TECH Acquired by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC acquired a new stake in Bio-Techne Corp (NASDAQ:TECH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 120,139 shares of the biotechnology company’s stock, valued at approximately $8,488,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Danske Bank A S purchased a new position in shares of Bio-Techne in the fourth quarter worth about $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Bio-Techne during the 3rd quarter valued at about $32,000. iSAM Funds UK Ltd purchased a new stake in Bio-Techne during the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its stake in Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 562 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Bio-Techne in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of TECH stock opened at $72.32 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.55 and a quick ratio of 3.35. The company has a market capitalization of $11.32 billion, a PE ratio of 62.89, a price-to-earnings-growth ratio of 8.61 and a beta of 1.28. The firm’s 50-day moving average is $69.28 and its two-hundred day moving average is $59.54. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.62.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, meeting the consensus estimate 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 net margin of 14.97% and a return on equity of 13.23%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 EPS. Analysts predict that Bio-Techne Corp will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, August 24th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a yield of 3.6%. Bio-Techne’s dividend payout ratio (DPR) is currently 27.83%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and raised their target price for the stock from $65.00 to $73.00 in a research note on Monday, June 29th. Leerink Partners set a $73.00 price target on Bio-Techne in a research report on Thursday, June 25th. Wells Fargo & Company cut Bio-Techne from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $62.00 to $73.00 in a report on Thursday, August 13th. Royal Bank Of Canada downgraded Bio-Techne from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $62.00 to $73.00 in a research report on Thursday, July 9th. Finally, Stifel Nicolaus set a $50.00 price objective on Bio-Techne in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.92.

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.