Nuance Investments LLC Makes New Investment in Bio-Techne Corp $TECH

Nuance Investments LLC bought a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 105,796 shares of the biotechnology company’s stock, valued at approximately $7,474,000. Bio-Techne makes up approximately 1.3% of Nuance Investments LLC’s holdings, making the stock its 22nd largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of Bio-Techne by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock valued at $62,379,000 after acquiring an additional 113,634 shares in the last quarter. Woodline Partners LP boosted its position in Bio-Techne by 40.0% during the first quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock worth $783,000 after purchasing an additional 3,814 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares during the last quarter. First Trust Advisors LP grew its holdings in Bio-Techne by 1,085.7% during the second quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock valued at $5,424,000 after purchasing an additional 96,527 shares during the last quarter. Finally, Natixis raised its position in shares of Bio-Techne by 82.6% in the second quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock valued at $1,286,000 after purchasing an additional 11,306 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Bio-Techne in a research note on Tuesday, August 4th. Stephens set a $73.00 target price on shares of Bio-Techne and gave the stock an “equal weight” rating in a report on Friday, June 26th. Royal Bank Of Canada lowered shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $62.00 to $73.00 in a research report on Thursday, July 9th. Evercore cut shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Zacks Research downgraded Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.92.

Bio-Techne Trading Down 0.0%

Shares of TECH opened at $72.39 on Tuesday. The stock’s 50-day moving average price is $67.79 and its 200 day moving average price is $59.29. The company has a quick ratio of 3.35, a current ratio of 4.55 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 62.95, a P/E/G ratio of 8.62 and a beta of 1.28. Bio-Techne Corp has a 12-month low of $43.19 and a 12-month high of $72.62.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The company had revenue of $321.19 million during the quarter, compared to the consensus estimate of $314.63 million. During the same quarter last year, the company earned $0.53 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts predict that Bio-Techne Corp will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

The company also recently announced 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. This represents a $2.60 annualized dividend and a yield of 3.6%. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, August 24th. Bio-Techne’s dividend payout ratio (DPR) is 27.83%.

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.