4,080 Shares in Bio-Techne Corp $TECH Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC acquired a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,080 shares of the biotechnology company’s stock, valued at approximately $210,000.

Several other hedge funds also recently bought and sold shares of TECH. CX Institutional purchased a new position in Bio-Techne during the first quarter worth $27,000. AlphaQuest LLC acquired a new stake in shares of Bio-Techne during the first quarter valued at $34,000. Federated Hermes Inc. purchased a new position in Bio-Techne in the 1st quarter valued at about $41,000. Caitong International Asset Management Co. Ltd lifted its holdings in Bio-Techne by 1,239.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company’s stock valued at $54,000 after purchasing an additional 855 shares in the last quarter. Finally, Horizon Financial Services LLC purchased a new position in Bio-Techne in the 1st quarter valued at about $69,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TECH shares. Royal Bank Of Canada raised shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 3rd. Evercore ISI lifted their target price on shares of Bio-Techne from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup upgraded Bio-Techne from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $70.00 in a report on Thursday, August 21st. Stephens upgraded Bio-Techne to a “strong-buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, July 22nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.17.

Bio-Techne Stock Down 2.1%

Shares of TECH opened at $58.66 on Friday. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. The firm has a market cap of $9.13 billion, a PE ratio of 127.52, a price-to-earnings-growth ratio of 3.82 and a beta of 1.48. The company’s fifty day moving average is $54.47 and its two-hundred day moving average is $52.56. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $80.80.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The business had revenue of $316.96 million for the quarter, compared to analyst estimates of $315.14 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, August 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Bio-Techne’s payout ratio is presently 69.57%.

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.