Capstone Investment Advisors LLC Acquires Shares of 210,000 Bio-Techne Corp $TECH

Capstone Investment Advisors LLC bought a new position in Bio-Techne Corp (NASDAQ:TECH) during the second quarter, Holdings Channel.com reports. The fund bought 210,000 shares of the biotechnology company’s stock, valued at approximately $14,836,000.

A number of other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in Bio-Techne by 12.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after purchasing an additional 113,634 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Bio-Techne by 40.0% in the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock worth $783,000 after buying an additional 3,814 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after buying an additional 562 shares in the last quarter. First Trust Advisors LP grew its position in shares of Bio-Techne by 1,085.7% during the 2nd quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock worth $5,424,000 after buying an additional 96,527 shares in the last quarter. Finally, Natixis increased its stake in shares of Bio-Techne by 82.6% during the second quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock valued at $1,286,000 after buying an additional 11,306 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Trading Up 0.1%

NASDAQ:TECH opened at $72.47 on Friday. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 63.02, a PEG ratio of 8.62 and a beta of 1.28. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week 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 firm has a 50 day moving average of $70.57 and a 200 day moving average of $59.67.

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

Bio-Techne Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be paid a dividend of $0.65 per share. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, August 24th. This represents a $2.60 annualized dividend and a yield of 3.6%. Bio-Techne’s dividend payout ratio (DPR) is presently 27.83%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark restated a “hold” rating on shares of Bio-Techne in a report on Wednesday, August 19th. Piper Sandler began coverage on shares of Bio-Techne in a report on Thursday, June 11th. They set a “neutral” rating and a $65.00 target price on the stock. Wells Fargo & Company downgraded shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $62.00 to $73.00 in a research report on Thursday, August 13th. TD Cowen lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and boosted their price target for the company from $65.00 to $73.00 in a report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.92.

Bio-Techne 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.