Bio-Techne Sees Unusually Large Options Volume (NASDAQ:TECH)

Bio-Techne Corp (NASDAQ:TECH) was the recipient of some unusual options trading on Tuesday. Investors purchased 10,021 put options on the company. This represents an increase of approximately 463% compared to the typical daily volume of 1,779 put options.

Bio-Techne Trading Up 0.5%

TECH opened at $52.69 on Thursday. The stock has a market capitalization of $8.24 billion, a PE ratio of 103.32, a P/E/G ratio of 3.45 and a beta of 1.48. Bio-Techne has a one year low of $46.01 and a one year high of $72.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. The business’s 50 day moving average price is $59.95 and its 200 day moving average price is $59.75.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $295.88 million during the quarter, compared to analysts’ expectations of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, equities research analysts expect that Bio-Techne will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

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

Hedge Funds Weigh In On Bio-Techne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of Bio-Techne by 109.7% during the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 237 shares during the period. Danske Bank A S acquired a new position in Bio-Techne during the 4th quarter worth $29,000. eCIO Inc. acquired a new position in Bio-Techne during the 4th quarter worth $30,000. Measured Wealth Private Client Group LLC purchased a new stake in Bio-Techne during the 3rd quarter worth about $32,000. Finally, iSAM Funds UK Ltd acquired a new stake in Bio-Techne in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TECH shares. TD Cowen restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Robert W. Baird set a $70.00 price target on shares of Bio-Techne in a research report on Thursday, February 5th. Citigroup reiterated a “buy” rating and issued a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on Bio-Techne and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Benchmark restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.77.

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.