Intrinsic Edge Capital Management LLC Invests $5.75 Million in Bio-Techne Corp $TECH

Intrinsic Edge Capital Management LLC purchased a new position in shares of Bio-Techne Corp (NASDAQ:TECH) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 110,000 shares of the biotechnology company’s stock, valued at approximately $5,749,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danske Bank A S bought a new position in Bio-Techne in the 4th quarter valued at $29,000. eCIO Inc. acquired a new position in Bio-Techne in the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Bio-Techne during the third quarter worth $32,000. iSAM Funds UK Ltd bought a new stake in shares of Bio-Techne during the third quarter worth $33,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 562 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Price Performance

Shares of TECH stock opened at $72.03 on Thursday. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 104.39, a PEG ratio of 8.58 and a beta of 1.29. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.37. 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 stock has a 50-day moving average price of $62.07 and a 200 day moving average price of $58.94.

Bio-Techne (NASDAQ:TECH) last released its earnings results 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 business had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 earnings per share. Research analysts expect that Bio-Techne Corp will post 1.65 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, May 18th. Bio-Techne’s dividend payout ratio is currently 46.38%.

Analyst Ratings Changes

A number of research analysts recently issued reports on TECH shares. Evercore cut Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a research report on Thursday, May 7th. Stephens set a $73.00 target price on shares of Bio-Techne and gave the stock an “equal weight” rating in a research note on Friday, June 26th. William Blair lowered shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target on the stock. in a research note on Friday, June 26th. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $68.08.

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.