TradeLink Capital LLC Acquires Shares of 20,804 Bio-Techne Corp $TECH

TradeLink Capital LLC bought a new stake in Bio-Techne Corp (NASDAQ:TECH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 20,804 shares of the biotechnology company’s stock, valued at approximately $1,223,000. Bio-Techne makes up 9.8% of TradeLink Capital LLC’s investment portfolio, making the stock its 2nd biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Danske Bank A S acquired a new position in shares of Bio-Techne during the 4th quarter worth $29,000. eCIO Inc. acquired a new stake in Bio-Techne in the fourth quarter valued at about $30,000. Measured Wealth Private Client Group LLC bought a new position in Bio-Techne in the third quarter valued at about $32,000. iSAM Funds UK Ltd bought a new position in Bio-Techne in the third quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC raised its stake in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 562 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Stifel Nicolaus set a $50.00 target price on shares of Bio-Techne in a report on Thursday. Wells Fargo & Company decreased their price target on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Evercore set a $50.00 price objective on shares of Bio-Techne in a research report on Thursday. Robert W. Baird set a $49.00 price objective on shares of Bio-Techne in a research note on Thursday. Finally, Citigroup cut their target price on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $66.77.

Bio-Techne Price Performance

Bio-Techne stock opened at $47.42 on Tuesday. The stock has a 50-day moving average price of $54.01 and a two-hundred day moving average price of $59.32. Bio-Techne Corp has a 12 month low of $45.12 and a 12 month high of $72.16. The company has a market capitalization of $7.42 billion, a PE ratio of 68.73, a P/E/G ratio of 3.19 and a beta of 1.41. 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 (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share 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 firm had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. During the same quarter last year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that Bio-Techne Corp will post 1.72 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th. Bio-Techne’s payout ratio is presently 46.38%.

About Bio-Techne

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.