Kintayl Capital LP Invests $1.60 Million in Bio-Techne Corp $TECH

Kintayl Capital LP bought a new stake in Bio-Techne Corp (NASDAQ:TECH) during the second quarter, HoldingsChannel.com reports. The fund bought 22,689 shares of the biotechnology company’s stock, valued at approximately $1,603,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TECH. Tema ETFs LLC boosted its position in Bio-Techne by 5.4% during the 2nd quarter. Tema ETFs LLC now owns 2,818 shares of the biotechnology company’s stock worth $199,000 after purchasing an additional 145 shares during the period. Accredited Investors Inc. raised its position in Bio-Techne by 2.7% in the fourth quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock valued at $356,000 after purchasing an additional 161 shares during the period. Oppenheimer & Co. Inc. raised its position in Bio-Techne by 3.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock valued at $315,000 after purchasing an additional 181 shares during the period. Bryn Mawr Trust Advisors LLC lifted its stake in shares of Bio-Techne by 5.1% during the first quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 194 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in shares of Bio-Techne by 2.8% during the fourth quarter. New Mexico Educational Retirement Board now owns 7,300 shares of the biotechnology company’s stock worth $429,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $72.33 on Wednesday. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 62.90, a price-to-earnings-growth ratio of 8.62 and a beta of 1.28. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.62. The business has a 50 day simple moving average of $69.93 and a 200-day simple moving average of $59.58.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data 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 firm had revenue of $321.19 million for the quarter, compared to analysts’ expectations of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. As a group, equities research analysts expect 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 will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 24th. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s payout ratio is 27.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stephens set a $73.00 target price on Bio-Techne and gave the company an “equal weight” rating in a research note on Friday, June 26th. Evercore lowered Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and increased their price objective for the company from $70.00 to $73.00 in a research report on Friday, June 26th. Leerink Partners set a $73.00 price objective on shares of Bio-Techne in a research note on Thursday, June 25th. Finally, Robert W. Baird boosted their target price on shares of Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company 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.