Callan Family Office LLC Makes New Investment in Bio-Techne Corp $TECH

Callan Family Office LLC acquired a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the second quarter, HoldingsChannel.com reports. The firm acquired 22,045 shares of the biotechnology company’s stock, valued at approximately $1,557,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TECH. Allworth Financial LP acquired a new stake in shares of Bio-Techne during the 2nd quarter worth about $59,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Bio-Techne during the second quarter worth approximately $2,197,000. Ceredex Value Advisors LLC bought a new position in shares of Bio-Techne in the second quarter valued at approximately $8,488,000. E Fund Management Co. Ltd. acquired a new position in shares of Bio-Techne in the 2nd quarter worth approximately $445,000. Finally, Madison Asset Management LLC bought a new stake in Bio-Techne during the 2nd quarter worth approximately $75,134,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

TECH stock opened at $72.32 on Monday. The company has a market cap of $11.34 billion, a P/E ratio of 62.89, a PEG ratio of 8.61 and a beta of 1.28. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.62. 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 business has a fifty day moving average of $69.28 and a 200-day moving average of $59.50.

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

Bio-Techne Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, August 24th. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s dividend payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of recent analyst reports. Piper Sandler assumed coverage on Bio-Techne in a report on Thursday, June 11th. They set a “neutral” rating and a $65.00 price target for the company. Benchmark restated a “hold” rating on shares of Bio-Techne in a report on Wednesday. Stifel Nicolaus set a $50.00 target price on Bio-Techne in a research note on Thursday, May 7th. Stephens set a $73.00 price target on Bio-Techne and gave the company an “equal weight” rating in a report on Friday, June 26th. Finally, Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and upped their price target for the stock from $70.00 to $73.00 in a research report on Friday, June 26th. Two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Bio-Techne 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.