Rakuten Investment Management Inc. Acquires Shares of 16,600 Bio-Techne Corp $TECH

Rakuten Investment Management Inc. bought a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,600 shares of the biotechnology company’s stock, valued at approximately $1,177,000.

Other large investors also recently modified their holdings of the company. Tema ETFs LLC raised its position in Bio-Techne by 5.4% during the 2nd quarter. Tema ETFs LLC now owns 2,818 shares of the biotechnology company’s stock valued at $199,000 after purchasing an additional 145 shares during the last quarter. Accredited Investors Inc. increased its stake 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 valued at $356,000 after buying an additional 161 shares during the period. Oppenheimer & Co. Inc. increased its stake 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 valued at $315,000 after buying an additional 181 shares during the period. Bryn Mawr Trust Advisors LLC raised its holdings 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 in the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in shares of Bio-Techne by 2.8% during the fourth quarter. New Mexico Educational Retirement Board now owns 7,300 shares of the biotechnology company’s stock valued at $429,000 after acquiring an additional 200 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TECH has been the subject of a number of research analyst reports. William Blair lowered Bio-Techne from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 25th. Piper Sandler began coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They set a “neutral” rating and a $65.00 price objective on the stock. Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 target price for the company. in a research report on Friday, June 26th. Finally, Robert W. Baird lifted their target price on shares of Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Bio-Techne currently has an average rating of “Hold” and a consensus price target of $68.92.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $72.35 on Monday. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.62. The company has a 50 day simple moving average of $70.86 and a two-hundred day simple moving average of $59.71. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 62.91, a P/E/G ratio of 8.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $321.19 million during the quarter, compared to analyst estimates of $314.63 million. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. 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. Shareholders of record on Monday, August 24th will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, August 24th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. Bio-Techne’s dividend payout ratio (DPR) is presently 27.83%.

Bio-Techne 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.