Alpine Peaks Capital LP Buys 15,500 Shares of Bio-Techne Corp $TECH

Alpine Peaks Capital LP raised its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 43.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,500 shares of the biotechnology company’s stock after purchasing an additional 15,500 shares during the period. Bio-Techne accounts for approximately 2.9% of Alpine Peaks Capital LP’s holdings, making the stock its 19th biggest position. Alpine Peaks Capital LP’s holdings in Bio-Techne were worth $3,029,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TECH. Wellington Management Group LLP boosted its holdings in shares of Bio-Techne by 349.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after purchasing an additional 3,978,026 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Bio-Techne by 164.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock valued at $235,994,000 after purchasing an additional 2,495,328 shares during the last quarter. Norges Bank bought a new position in shares of Bio-Techne during the 4th quarter valued at about $99,494,000. Durable Capital Partners LP bought a new position in shares of Bio-Techne during the 3rd quarter valued at about $77,658,000. Finally, Morgan Stanley boosted its holdings in shares of Bio-Techne by 15.3% during the 4th quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock valued at $490,794,000 after purchasing an additional 1,107,536 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 1.8%

Shares of NASDAQ:TECH opened at $55.00 on Thursday. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16. The company has a 50-day moving average price of $52.28 and a 200 day moving average price of $57.15. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 79.71, a PEG ratio of 5.32 and a beta of 1.37.

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

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio (DPR) is presently 46.38%.

Wall Street Analyst Weigh In

Several research firms have commented on TECH. Robert W. Baird set a $49.00 price objective on shares of Bio-Techne in a report on Thursday, May 7th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating 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 company an “outperform” rating in a report on Thursday, May 14th. TD Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Finally, Wells Fargo & Company lowered their price target on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.15.

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.