V Square Quantitative Management LLC recently boosted its position in shares of Bio-Techne Co. (NASDAQ) by 18.6% during the fourth quarter. According to the company’s latest Form 13F filing with the SEC, V Square Quantitative Management LLC acquired an additional 641 shares, bringing its total holdings to 4,094 shares valued at approximately $316,000.
Institutional Investment
Several other institutional investors and hedge funds have also been active in buying and selling shares of Bio-Techne. HighTower Advisors LLC increased its stake by 5.4% in the third quarter, now holding 18,866 shares worth $1.29 million after purchasing an additional 965 shares.
Meanwhile, DekaBank Deutsche Girozentrale boosted its stake by 2.5% in the same period, now owning 20,880 shares valued at $1.415 million after acquiring an additional 518 shares.
Kestra Advisory Services LLC significantly increased its position in Bio-Techne, adding 27,647 shares during the third quarter to hold a total of 32,766 shares valued at $2.23 million. Similarly, Rafferty Asset Management LLC grew its stake by 7.5%, now holding 16,426 shares worth $1.118 million.
Korea Investment CORP also raised its holdings by 75.8%, now owning 68,603 shares worth $4.67 million. Overall, 98.95% of Bio-Techne’s stock is owned by hedge funds and other institutional investors.
Analyst Ratings and Stock Performance
Bio-Techne has received various ratings from analysts recently. Deutsche Bank Aktiengesellschaft reduced its price target from $85.00 to $82.00 but maintained a “buy” rating.
Robert W. Baird raised their target price from $73.00 to $81.00, also giving the stock an “outperform” rating. Benchmark reiterated a “buy” rating with a price target of $95.00, while Citigroup downgraded the stock from a “buy” to a “neutral” rating, setting a price objective of $85.00.
Currently, the stock has an average rating of “Moderate Buy” and an average target price of $81.00 according to MarketBeat.com.
Bio-Techne’s stock opened at $75.87 on Monday. The firm’s 50-day moving average is $74.33, and its 200-day moving average is $72.60. Bio-Techne has a 52-week low of $51.79 and a 52-week high of $89.91.
The company has a market capitalization of $11.96 billion, with a P/E ratio of 60.21, a P/E/G ratio of 9.11, and a beta of 1.29. It has a debt-to-equity ratio of 0.19, a quick ratio of 2.88, and a current ratio of 4.08.
Recent Financial Results
Bio-Techne reported its latest earnings on May 1st, posting $0.48 earnings per share (EPS) for the quarter, exceeding analysts’ consensus estimate of $0.45 by $0.03. The company recorded revenue of $303.43 million for the quarter, surpassing the expected $292.36 million.
This marks a 3.2% increase in revenue compared to the same quarter last year. Bio-Techne’s return on equity stood at 13.60%, with a net margin of 17.59%. Analysts anticipate that Bio-Techne will post 1.56 EPS for the current fiscal year.
Dividend Information
Bio-Techne recently announced a quarterly dividend, which was paid on May 24th. Shareholders of record on May 13th received a dividend of $0.08 per share, equating to an annual dividend of $0.32 and a yield of 0.42%.
The ex-dividend date was May 10th. The company’s dividend payout ratio (DPR) is currently 25.40%.
About Bio-Techne
Bio-Techne Corporation, along with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets globally.
The company operates in the United States, the United Kingdom, Europe, the Middle East, Africa, Greater China, and the Asia-Pacific region.
Conclusion
Bio-Techne continues to attract significant institutional interest, with recent increases in holdings by various funds and positive analyst ratings. The company’s financial performance shows steady growth, and its stock remains a favorable option for investors.
With a strong market position and ongoing development in life science reagents and instruments, Bio-Techne is well-positioned for continued success in the biotechnology sector.
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