Lecap Asset Management Ltd. raised its holdings in Bio-Techne Corp (NASDAQ:TECH – Free Report) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,606 shares of the biotechnology company’s stock after buying an additional 1,017 shares during the period. Lecap Asset Management Ltd.’s holdings in Bio-Techne were worth $751,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC grew its stake in Bio-Techne by 3,534.0% during the 1st quarter. GAMMA Investing LLC now owns 105,241 shares of the biotechnology company’s stock worth $6,170,000 after purchasing an additional 102,345 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Bio-Techne by 15.1% in the 1st quarter. Rhumbline Advisers now owns 300,474 shares of the biotechnology company’s stock valued at $17,617,000 after buying an additional 39,345 shares during the period. Czech National Bank grew its position in shares of Bio-Techne by 5.4% during the first quarter. Czech National Bank now owns 36,310 shares of the biotechnology company’s stock worth $2,129,000 after buying an additional 1,859 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Bio-Techne during the first quarter worth approximately $228,000. Finally, Fulton Bank N.A. raised its holdings in Bio-Techne by 17.4% in the first quarter. Fulton Bank N.A. now owns 7,963 shares of the biotechnology company’s stock valued at $467,000 after acquiring an additional 1,182 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.
Bio-Techne Trading Up 3.6%
NASDAQ:TECH opened at $62.09 on Friday. The company has a market capitalization of $9.67 billion, a PE ratio of 134.98, a P/E/G ratio of 3.82 and a beta of 1.48. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $80.80. The stock’s 50 day moving average price is $54.05 and its 200 day moving average price is $52.58. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18.
Bio-Techne Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, August 18th. Bio-Techne’s dividend payout ratio (DPR) is 69.57%.
Analyst Upgrades and Downgrades
Several research analysts have commented on TECH shares. Benchmark reiterated a “buy” rating and set a $75.00 price target on shares of Bio-Techne in a report on Thursday, June 5th. Stephens raised shares of Bio-Techne to a “strong-buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, July 22nd. Citigroup upgraded shares of Bio-Techne from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $70.00 in a research note on Thursday, August 21st. Wall Street Zen lowered Bio-Techne from a “buy” rating to a “hold” rating in a report on Sunday, June 8th. Finally, Royal Bank Of Canada raised Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.42.
Get Our Latest Stock Analysis on Bio-Techne
Bio-Techne Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.
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