Squarepoint Ops LLC Boosts Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Squarepoint Ops LLC grew its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 90.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,334 shares of the biotechnology company’s stock after buying an additional 15,345 shares during the period. Squarepoint Ops LLC’s holdings in Bio-Techne were worth $2,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in TECH. Sei Investments Co. boosted its holdings in Bio-Techne by 16.2% in the fourth quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock valued at $66,089,000 after purchasing an additional 119,295 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Bio-Techne by 152.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 32,378 shares of the biotechnology company’s stock worth $2,498,000 after acquiring an additional 19,530 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in Bio-Techne by 563.1% in the first quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock valued at $967,000 after acquiring an additional 11,667 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Bio-Techne by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock valued at $14,125,000 after acquiring an additional 33,709 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Bio-Techne by 135.5% during the first quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock worth $2,252,000 after purchasing an additional 18,404 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TECH shares. Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Royal Bank of Canada lowered their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, Robert W. Baird upped their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus price target of $80.60.

Bio-Techne Stock Down 4.4 %

Shares of Bio-Techne stock opened at $74.00 on Friday. Bio-Techne Co. has a one year low of $51.79 and a one year high of $85.57. The company has a market cap of $11.74 billion, a P/E ratio of 58.73, a PEG ratio of 5.69 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. The firm has a fifty day moving average of $75.32 and a two-hundred day moving average of $74.18.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The firm had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $306.49 million. During the same period in the prior year, the company posted $0.56 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts forecast that Bio-Techne Co. will post 1.7 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio (DPR) is presently 25.40%.

Bio-Techne Company Profile

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.