Vise Technologies Inc. Buys 10,380 Shares of Bio-Techne Corp $TECH

Vise Technologies Inc. purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) during the third quarter, Holdings Channel reports. The institutional investor purchased 10,380 shares of the biotechnology company’s stock, valued at approximately $752,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Bio-Techne during the 2nd quarter worth about $990,924,000. HBK Investments L P purchased a new position in Bio-Techne during the 2nd quarter valued at about $482,186,000. Maverick Capital Ltd. grew its stake in Bio-Techne by 23.1% during the 1st quarter. Maverick Capital Ltd. now owns 4,739,721 shares of the biotechnology company’s stock valued at $247,698,000 after acquiring an additional 888,798 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. increased its holdings in shares of Bio-Techne by 131.4% in 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 during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Bio-Techne by 10.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,973,136 shares of the biotechnology company’s stock valued at $103,118,000 after purchasing an additional 178,843 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Bio-Techne Trading Down 0.0%

TECH opened at $72.82 on Wednesday. The stock has a fifty day moving average price of $72.50 and a 200 day moving average price of $63.41. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.88. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 63.32, a PEG ratio of 5.28 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Friday, November 6th. The biotechnology company reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. Bio-Techne had a return on equity of 11.56% and a net margin of 14.00%. The company had revenue of $299.71 million for the quarter, compared to analyst estimates of $292.60 million. As a group, sell-side analysts forecast that Bio-Techne Corp will post 1.75 earnings per share for the current fiscal year.

Bio-Techne Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 13th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. This is a negative change from Bio-Techne’s previous quarterly dividend of $0.65. Bio-Techne’s dividend payout ratio is presently 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.