Susquehanna Fundamental Investments LLC Takes $760,000 Position in Bio-Techne Co. (NASDAQ:TECH)

Susquehanna Fundamental Investments LLC bought a new position in shares of Bio-Techne Co. (NASDAQ:TECH) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,800 shares of the biotechnology company’s stock, valued at approximately $760,000.

Other large investors have also recently bought and sold shares of the company. Brown Capital Management LLC increased its stake in shares of Bio-Techne by 12.4% in the fourth quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock worth $273,994,000 after acquiring an additional 392,986 shares during the period. Mairs & Power Inc. lifted its holdings in shares of Bio-Techne by 0.8% in the 4th quarter. Mairs & Power Inc. now owns 3,079,483 shares of the biotechnology company’s stock valued at $237,613,000 after buying an additional 25,903 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Bio-Techne by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 2,862,526 shares of the biotechnology company’s stock worth $201,493,000 after buying an additional 351,645 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Bio-Techne by 3.0% during the fourth quarter. Mackenzie Financial Corp now owns 2,399,327 shares of the biotechnology company’s stock worth $185,132,000 after acquiring an additional 70,294 shares during the period. Finally, Norges Bank acquired a new stake in Bio-Techne during the fourth quarter worth about $119,771,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TECH has been the topic of several recent research reports. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, May 22nd. Robert W. Baird raised their price target on shares of Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Benchmark reiterated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $81.00.

Bio-Techne Price Performance

TECH stock traded up $0.03 during trading on Monday, hitting $77.34. The stock had a trading volume of 185,920 shares, compared to its average volume of 1,083,211. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $89.91. The company’s 50-day moving average price is $76.91 and its two-hundred day moving average price is $72.74. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88. The stock has a market capitalization of $12.19 billion, a P/E ratio of 61.36, a PEG ratio of 8.01 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The firm had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. During the same period in the previous year, the company posted $0.47 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. As a group, research analysts predict that Bio-Techne Co. will post 1.56 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, May 10th. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.

Bio-Techne Company 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.