MAI Capital Management Purchases 869 Shares of Bio-Techne Corp $TECH

MAI Capital Management lifted its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 171.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,375 shares of the biotechnology company’s stock after purchasing an additional 869 shares during the quarter. MAI Capital Management’s holdings in Bio-Techne were worth $71,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 248 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Bio-Techne during the first quarter worth about $34,000. Federated Hermes Inc. bought a new position in shares of Bio-Techne during the 1st quarter valued at about $41,000. First Horizon Advisors Inc. grew its position in shares of Bio-Techne by 134.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 868 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 498 shares during the period. Finally, Hoese & Co LLP bought a new stake in Bio-Techne during the 2nd quarter worth approximately $51,000. Institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

TECH has been the topic of a number of research reports. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Evercore ISI set a $68.00 target price on shares of Bio-Techne in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Bio-Techne in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada raised Bio-Techne from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus target price of $70.92.

Bio-Techne Trading Down 0.4%

Shares of NASDAQ:TECH opened at $64.35 on Friday. The company’s 50-day moving average price is $60.08 and its two-hundred day moving average price is $54.93. Bio-Techne Corp has a one year low of $46.01 and a one year high of $79.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The stock has a market capitalization of $10.03 billion, a PE ratio of 139.88, a price-to-earnings-growth ratio of 3.63 and a beta of 1.51.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business had revenue of $286.56 million for the quarter, compared to the consensus estimate of $292.02 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. Bio-Techne’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio is currently 65.31%.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.