Machina Capital S.A.S. Acquires 24,337 Shares of Bio-Techne Corp $TECH

Machina Capital S.A.S. bought a new position in shares of Bio-Techne Corp (NASDAQ:TECH) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 24,337 shares of the biotechnology company’s stock, valued at approximately $1,764,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Bio-Techne in the second quarter worth about $990,924,000. HBK Investments L P bought a new position in shares of Bio-Techne during the 2nd quarter valued at about $482,186,000. Ruane Cunniff & Goldfarb L.P. lifted its holdings in shares of Bio-Techne by 131.4% during the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company’s stock valued at $177,266,000 after purchasing an additional 1,926,066 shares in the last quarter. Amundi grew its position in shares of Bio-Techne by 2,426.8% in the 2nd quarter. Amundi now owns 1,827,241 shares of the biotechnology company’s stock valued at $129,095,000 after purchasing an additional 1,754,926 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Bio-Techne in the 2nd quarter valued at approximately $90,305,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TECH. Benchmark reissued a “hold” rating on shares of Bio-Techne in a research note on Wednesday, August 19th. Argus lowered shares of Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 26th. Zacks Research raised shares of Bio-Techne from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. Weiss Ratings raised Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Wells Fargo & Company downgraded Bio-Techne from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $62.00 to $73.00 in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.92.

Bio-Techne Trading Up 0.1%

Shares of TECH stock opened at $72.84 on Friday. The firm’s fifty day moving average price is $72.53 and its two-hundred day moving average price is $63.46. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.88. The firm has a market capitalization of $11.44 billion, a P/E ratio of 63.34, a PEG ratio of 5.28 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Monday, November 9th. The biotechnology company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The company had revenue of $299.71 million during the quarter, compared to the consensus estimate of $292.60 million. Bio-Techne had a net margin of 14.00% and a return on equity of 11.56%. As a group, equities research analysts forecast that Bio-Techne Corp will post 1.75 EPS for the current fiscal year.

Bio-Techne Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Friday, November 13th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.4%. This is a drop from Bio-Techne’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, November 13th. Bio-Techne’s payout ratio is currently 27.83%.

Bio-Techne Company Profile

Bio-Techne is a life sciences company that develops and supplies products and services used in biological research, drug development, and clinical diagnostics. Its offerings include proteins, antibodies, immunoassays, and small molecules, as well as instruments and analytical tools for studying cells and biological processes. The company also provides technologies for protein analysis, molecular diagnostics, and spatial biology. Its portfolio includes products and services associated with brands such as R&D Systems, Tocris, ProteinSimple, and Advanced Cell Diagnostics.