WINTON GROUP Ltd Makes New $6.23 Million Investment in Bio-Techne Corp $TECH

WINTON GROUP Ltd acquired a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,094 shares of the biotechnology company’s stock, valued at approximately $6,230,000. WINTON GROUP Ltd owned 0.08% of Bio-Techne at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of Bio-Techne by 5.1% in the first quarter. Smartleaf Asset Management LLC now owns 4,300 shares of the biotechnology company’s stock valued at $253,000 after acquiring an additional 210 shares during the period. Parkside Financial Bank & Trust lifted its stake in Bio-Techne by 5.6% in the second quarter. Parkside Financial Bank & Trust now owns 4,134 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 219 shares during the last quarter. Allworth Financial LP boosted its position in shares of Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 248 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Bio-Techne by 1.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 18,187 shares of the biotechnology company’s stock valued at $935,000 after buying an additional 261 shares during the period. Finally, GC Wealth Management RIA LLC grew its stake in shares of Bio-Techne by 2.5% during the second quarter. GC Wealth Management RIA LLC now owns 11,533 shares of the biotechnology company’s stock valued at $593,000 after buying an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 2.9%

Shares of Bio-Techne stock opened at $61.68 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.22 and a quick ratio of 2.81. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 125.88, a PEG ratio of 4.03 and a beta of 1.46. The firm’s 50-day moving average is $61.20 and its two-hundred day moving average is $55.49. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $79.28.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $286.56 million during the quarter, compared to analysts’ expectations of $292.02 million. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. As a group, research analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were issued a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio (DPR) is currently 65.31%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TECH shares. Wells Fargo & Company boosted their price objective on Bio-Techne from $59.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. UBS Group lifted their target price on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Evercore ISI set a $68.00 price target on shares of Bio-Techne in a report on Thursday, November 6th. Royal Bank Of Canada upgraded shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 3rd. Finally, Argus boosted their price objective on shares of Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.92.

About Bio-Techne

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.