124,530 Shares in Bio-Techne Corp $TECH Bought by Carmignac Gestion

Carmignac Gestion purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 124,530 shares of the biotechnology company’s stock, valued at approximately $8,798,000.

Several other institutional investors have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new stake in Bio-Techne in the 3rd quarter worth $32,000. iSAM Funds UK Ltd bought a new position in shares of Bio-Techne during the third quarter valued at about $33,000. Avalon Trust Co purchased a new stake in shares of Bio-Techne during the second quarter worth about $42,000. Los Angeles Capital Management LLC purchased a new stake in shares of Bio-Techne during the fourth quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 562 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target on the stock. in a report on Friday, June 26th. Royal Bank Of Canada lowered Bio-Techne from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $62.00 to $73.00 in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. TD Cowen downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 29th. Finally, Robert W. Baird boosted their price objective on shares of Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, Bio-Techne has an average rating of “Hold” and an average price target of $68.92.

Bio-Techne Stock Down 0.2%

Shares of NASDAQ:TECH traded down $0.12 during midday trading on Tuesday, reaching $72.31. The company’s stock had a trading volume of 2,066,670 shares, compared to its average volume of 3,358,520. 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 $71.87 and a 200-day moving average of $60.19. The firm has a market capitalization of $11.34 billion, a P/E ratio of 62.88, a PEG ratio of 8.62 and a beta of 1.28. Bio-Techne Corp has a 12-month low of $43.19 and a 12-month high of $72.62.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $321.19 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $0.53 earnings per share. On average, research analysts anticipate that Bio-Techne Corp will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were paid a $0.65 dividend. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, August 24th. Bio-Techne’s dividend payout ratio (DPR) is presently 27.83%.

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.