Tudor Investment Corp ET AL Buys Shares of 242,016 Bio-Techne Corp $TECH

Tudor Investment Corp ET AL purchased a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 242,016 shares of the biotechnology company’s stock, valued at approximately $13,463,000.

Several other large investors have also bought and sold shares of TECH. Caprock Group LLC bought a new stake in shares of Bio-Techne during the 3rd quarter valued at approximately $1,710,000. Segall Bryant & Hamill LLC grew its stake in shares of Bio-Techne by 9.5% during the second quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock worth $29,100,000 after buying an additional 48,838 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Bio-Techne by 8.0% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock worth $26,386,000 after buying an additional 35,165 shares during the last quarter. Madison Asset Management LLC bought a new position in shares of Bio-Techne in the 3rd quarter valued at $41,425,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Bio-Techne by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after acquiring an additional 41,180 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TECH. Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a report on Tuesday, February 3rd. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 20th. Stifel Nicolaus set a $65.00 target price on shares of Bio-Techne and gave the stock a “hold” rating in a research report on Thursday, February 5th. Citigroup restated a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of Bio-Techne in a research report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft set a $72.00 price target on shares of Bio-Techne and gave the stock a “buy” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $72.77.

Bio-Techne Trading Down 0.2%

TECH opened at $51.48 on Friday. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $72.16. The company has a fifty day moving average of $60.84 and a 200-day moving average of $59.78. The stock has a market cap of $8.05 billion, a PE ratio of 100.94, a price-to-earnings-growth ratio of 3.42 and a beta of 1.48. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The business had revenue of $295.88 million for the quarter, compared to analyst estimates of $290.20 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. Bio-Techne’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts predict that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio is presently 62.75%.

About Bio-Techne

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.