Chicago Partners Investment Group LLC Acquires Shares of 5,268 Bio-Techne Corp $TECH

Chicago Partners Investment Group LLC acquired a new stake in Bio-Techne Corp (NASDAQ:TECH) during the second quarter, according to its most recent filing with the SEC. The firm acquired 5,268 shares of the biotechnology company’s stock, valued at approximately $291,000.

A number of other hedge funds have also recently bought and sold shares of TECH. AlphaQuest LLC bought a new position in Bio-Techne in the 1st quarter valued at $34,000. Federated Hermes Inc. acquired a new position in shares of Bio-Techne in the 1st quarter valued at $41,000. Hoese & Co LLP acquired a new position in shares of Bio-Techne in the 2nd quarter valued at $51,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Bio-Techne by 1,239.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company’s stock valued at $54,000 after purchasing an additional 855 shares during the period. Finally, Horizon Financial Services LLC acquired a new position in shares of Bio-Techne in the 1st quarter valued at $69,000. 98.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TECH has been the topic of a number of analyst reports. Royal Bank Of Canada raised Bio-Techne from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 3rd. Stephens raised Bio-Techne to a “strong-buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, July 22nd. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Citigroup raised Bio-Techne from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $70.00 in a research note on Thursday, August 21st. Finally, Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bio-Techne presently has a consensus rating of “Moderate Buy” and an average target price of $70.58.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $65.90 on Friday. The company has a market capitalization of $10.26 billion, a PE ratio of 143.26, a PEG ratio of 3.86 and a beta of 1.48. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $80.80. The company has a current ratio of 3.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $56.44 and its 200 day simple moving average is $53.00.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business had revenue of $316.96 million for the quarter, compared to the consensus estimate of $315.14 million. During the same quarter last year, the business posted $0.49 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, research analysts predict that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio (DPR) is currently 69.57%.

Bio-Techne Company 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.