Bio-Techne Co. (NASDAQ:TECH) Shares Bought by V Square Quantitative Management LLC

V Square Quantitative Management LLC grew its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 9.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,500 shares of the biotechnology company’s stock after purchasing an additional 406 shares during the quarter. V Square Quantitative Management LLC’s holdings in Bio-Techne were worth $322,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Bio-Techne in the first quarter worth about $38,000. Versant Capital Management Inc increased its holdings in Bio-Techne by 1,427.8% in the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 514 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Bio-Techne by 57.9% in the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 191 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in Bio-Techne in the first quarter valued at about $43,000. Finally, GAMMA Investing LLC bought a new stake in Bio-Techne in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ:TECH traded up $1.00 on Thursday, reaching $73.75. 1,248 shares of the company traded hands, compared to its average volume of 1,072,748. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The company’s 50 day moving average is $75.51 and its 200-day moving average is $73.44. The stock has a market capitalization of $11.62 billion, a PE ratio of 57.74, a P/E/G ratio of 8.03 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The company had revenue of $306.10 million for the quarter, compared to the consensus estimate of $306.49 million. During the same period in the previous year, the business earned $0.56 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, analysts anticipate that Bio-Techne Co. will post 1.8 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, August 19th. Bio-Techne’s dividend payout ratio (DPR) is currently 25.40%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Tuesday. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a report on Wednesday, May 22nd. Royal Bank of Canada lowered their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Robert W. Baird boosted their price objective on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.60.

Bio-Techne 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.