Atom Investors LP Buys Shares of 351,673 Bio-Techne Corp $TECH

Atom Investors LP acquired a new position in Bio-Techne Corp (NASDAQ:TECH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 351,673 shares of the biotechnology company’s stock, valued at approximately $20,682,000. Bio-Techne comprises 1.6% of Atom Investors LP’s portfolio, making the stock its 2nd biggest position. Atom Investors LP owned 0.22% of Bio-Techne at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TECH. Goldman Sachs Group Inc. lifted its holdings in shares of Bio-Techne by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after acquiring an additional 113,634 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Bio-Techne by 40.0% in the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock worth $783,000 after acquiring an additional 3,814 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Bio-Techne by 506.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 562 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Bio-Techne by 1,085.7% in the 2nd quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock worth $5,424,000 after acquiring an additional 96,527 shares during the last quarter. Finally, Natixis lifted its holdings in shares of Bio-Techne by 82.6% in the 2nd quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock worth $1,286,000 after acquiring an additional 11,306 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Down 0.2%

Shares of NASDAQ TECH opened at $56.03 on Wednesday. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average is $52.25 and its 200 day moving average is $57.22. The company has a market cap of $8.77 billion, a price-to-earnings ratio of 81.20, a PEG ratio of 5.34 and a beta of 1.37. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.16.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, equities research analysts expect that Bio-Techne Corp will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 yield of 0.6%. The ex-dividend date of this dividend was Monday, May 18th. Bio-Techne’s payout ratio is presently 46.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TECH. Citigroup lowered their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Evercore set a $50.00 price objective on shares of Bio-Techne in a report on Thursday, May 7th. Royal Bank Of Canada set a $62.00 price objective on shares of Bio-Techne and gave the stock an “outperform” rating in a report on Thursday, May 14th. Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a report on Thursday, May 7th. Finally, TD Cowen restated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.15.

Bio-Techne 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.