Inceptionr LLC Buys New Position in Bio-Techne Corp $TECH

Inceptionr LLC purchased a new position in Bio-Techne Corp (NASDAQ:TECH) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,832 shares of the biotechnology company’s stock, valued at approximately $409,000.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Bio-Techne by 349.8% during the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after purchasing an additional 3,978,026 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Bio-Techne by 164.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock valued at $235,994,000 after purchasing an additional 2,495,328 shares during the period. Norges Bank acquired a new stake in Bio-Techne during the 4th quarter valued at $99,494,000. Durable Capital Partners LP acquired a new stake in Bio-Techne during the 3rd quarter valued at $77,658,000. Finally, First Trust Advisors LP increased its stake in Bio-Techne by 2,874.9% during the 1st quarter. First Trust Advisors LP now owns 1,281,792 shares of the biotechnology company’s stock worth $66,986,000 after buying an additional 1,238,705 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Bio-Techne stock opened at $71.60 on Monday. The company has a market cap of $11.21 billion, a PE ratio of 103.77, a P/E/G ratio of 8.53 and a beta of 1.29. The company has a fifty day moving average price of $60.48 and a two-hundred day moving average price of $58.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. During the same quarter in the previous year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts expect that Bio-Techne Corp will post 1.65 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, May 18th. Bio-Techne’s dividend payout ratio is currently 46.38%.

Analyst Ratings Changes

Several analysts have recently weighed in on TECH shares. William Blair downgraded Bio-Techne from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 25th. Evercore downgraded Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and raised their price objective for the company from $70.00 to $73.00 in a research note on Friday, June 26th. Robert W. Baird lifted their price objective on Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Finally, Leerink Partners set a $73.00 target price on Bio-Techne in a research report on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.08.

Bio-Techne Company 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.