Tudor Investment Corp ET AL Purchases Shares of 242,016 Bio-Techne Corp $TECH

Tudor Investment Corp ET AL bought a new stake in Bio-Techne Corp (NASDAQ:TECH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 242,016 shares of the biotechnology company’s stock, valued at approximately $13,463,000. Tudor Investment Corp ET AL owned approximately 0.16% of Bio-Techne at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Bio-Techne by 109.7% in the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 237 shares during the period. Allworth Financial LP boosted its stake in shares of Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 248 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC raised its stake 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 acquiring an additional 562 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TECH has been the subject of several research reports. Citigroup reaffirmed a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. UBS Group reiterated a “buy” rating and issued a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Evercore increased their price objective on shares of Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. TD Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a report on Tuesday. Finally, Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus target price of $72.77.

Bio-Techne Stock Performance

TECH opened at $51.48 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $72.16. The firm has a market cap of $8.05 billion, a P/E ratio of 100.94, a price-to-earnings-growth ratio of 3.42 and a beta of 1.48. The business’s fifty day moving average is $60.84 and its 200-day moving average is $59.78.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $295.88 million during the quarter, compared to the consensus estimate of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.Bio-Techne’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Sell-side analysts expect that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s dividend payout ratio is 62.75%.

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.