Landscape Capital Management L.L.C. Invests $1.82 Million in Bio-Techne Corp $TECH

Landscape Capital Management L.L.C. purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,757 shares of the biotechnology company’s stock, valued at approximately $1,820,000.

Several other institutional investors have also recently bought and sold shares of TECH. Tema ETFs LLC lifted its position in shares of Bio-Techne by 5.4% during the second quarter. Tema ETFs LLC now owns 2,818 shares of the biotechnology company’s stock worth $199,000 after purchasing an additional 145 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Bio-Techne by 2.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 153 shares during the period. Accredited Investors Inc. raised its position in shares of Bio-Techne by 2.7% during the fourth quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock worth $356,000 after acquiring an additional 161 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Bio-Techne by 3.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock worth $315,000 after acquiring an additional 181 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC lifted its stake in shares of Bio-Techne by 5.1% during the first quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company’s stock valued at $208,000 after acquiring an additional 194 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

NASDAQ:TECH opened at $72.32 on Friday. Bio-Techne Corp has a 1-year low of $43.19 and a 1-year high of $72.62. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $69.28 and a 200 day simple moving average of $59.54. The stock has a market capitalization of $11.32 billion, a PE ratio of 62.89, a P/E/G ratio of 8.61 and a beta of 1.28.

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

Bio-Techne Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 24th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s payout ratio is currently 27.83%.

Analysts Set New Price Targets

A number of analysts have commented on TECH shares. Robert W. Baird lifted their target price on shares of Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. William Blair downgraded Bio-Techne from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 25th. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a research report on Thursday, May 7th. Piper Sandler assumed coverage on Bio-Techne in a research note on Thursday, June 11th. They set a “neutral” rating and a $65.00 price objective for the company. Finally, Zacks Research downgraded Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.92.

About Bio-Techne

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.