350,000 Shares in Bio-Techne Corp $TECH Purchased by Sculptor Capital LP

Sculptor Capital LP purchased a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 350,000 shares of the biotechnology company’s stock, valued at approximately $24,728,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of Bio-Techne by 12.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock worth $62,379,000 after purchasing an additional 113,634 shares during the last quarter. Woodline Partners LP lifted its position in Bio-Techne by 40.0% during the first quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after purchasing an additional 3,814 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares during the last quarter. First Trust Advisors LP boosted its holdings in Bio-Techne by 1,085.7% in the second quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock valued at $5,424,000 after purchasing an additional 96,527 shares during the last quarter. Finally, Natixis grew its position in Bio-Techne by 82.6% during the 2nd quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock worth $1,286,000 after purchasing an additional 11,306 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

Shares of TECH stock opened at $72.33 on Wednesday. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09. Bio-Techne Corp has a 12-month low of $43.19 and a 12-month high of $72.62. The business’s 50 day moving average is $69.93 and its two-hundred day moving average is $59.58. The company has a market capitalization of $11.34 billion, a P/E ratio of 62.90, a P/E/G ratio of 8.62 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $321.19 million for the quarter, compared to analyst estimates of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. Analysts expect that Bio-Techne Corp will post 1.76 EPS for the current fiscal year.

Bio-Techne Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.65 per share. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 24th. Bio-Techne’s dividend payout ratio is presently 27.83%.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of recent research reports. Wells Fargo & Company lowered Bio-Techne from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $62.00 to $73.00 in a research note on Thursday, August 13th. William Blair lowered Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Royal Bank Of Canada cut Bio-Techne from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $62.00 to $73.00 in a research report on Thursday, July 9th. Benchmark reissued a “hold” rating on shares of Bio-Techne in a report on Wednesday, August 19th. Finally, TD Cowen cut shares of Bio-Techne from a “buy” rating to a “hold” rating and raised their price objective for the stock from $65.00 to $73.00 in a research note on Monday, June 29th. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $68.92.

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.