Henshaw Capital LLC Has $2.40 Million Stock Holdings in Bio-Techne Corp $TECH

Henshaw Capital LLC raised its position in Bio-Techne Corp (NASDAQ:TECH) by 31.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 45,905 shares of the biotechnology company’s stock after buying an additional 10,915 shares during the period. Henshaw Capital LLC’s holdings in Bio-Techne were worth $2,399,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Bio-Techne by 349.8% during the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock worth $284,555,000 after acquiring an additional 3,978,026 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Bio-Techne by 164.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock worth $235,994,000 after purchasing an additional 2,495,328 shares during the period. Ruane Cunniff & Goldfarb L.P. raised its holdings in Bio-Techne by 131.4% during the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company’s stock worth $177,266,000 after purchasing an additional 1,926,066 shares during the last quarter. Norges Bank bought a new stake in Bio-Techne during the 4th quarter worth about $99,494,000. Finally, Durable Capital Partners LP acquired a new position in Bio-Techne during the 3rd quarter valued at about $77,658,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Up 0.1%

Bio-Techne stock opened at $72.09 on Friday. The company’s 50 day simple moving average is $63.04 and its 200 day simple moving average is $59.08. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.36. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 104.48, a PEG ratio of 8.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. As a group, sell-side analysts anticipate that Bio-Techne Corp will post 1.65 EPS for the current year.

Bio-Techne Dividend Announcement

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

Analysts Set New Price Targets

TECH has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a research report on Friday, June 26th. Leerink Partners set a $73.00 target price on shares of Bio-Techne in a report on Thursday, June 25th. Evercore downgraded Bio-Techne from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Stephens set a $73.00 price target on Bio-Techne and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Finally, Wells Fargo & Company decreased their price objective on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bio-Techne currently has an average rating of “Hold” and an average target price of $68.08.

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.