Summit Creek Advisors LLC Takes Position in Bio-Techne Corp $TECH

Summit Creek Advisors LLC bought a new position in shares of Bio-Techne Corp (NASDAQ:TECH) during the second quarter, Holdings Channel reports. The fund bought 129,624 shares of the biotechnology company’s stock, valued at approximately $9,158,000. Bio-Techne comprises 3.1% of Summit Creek Advisors LLC’s portfolio, making the stock its 4th largest position.

Several other large investors have also recently bought and sold shares of TECH. Meeder Advisory Services Inc. bought a new position in shares of Bio-Techne in the second quarter worth $289,000. Nuance Investments LLC purchased a new position in Bio-Techne during the second quarter worth about $7,474,000. BlackRock Inc. bought a new position in Bio-Techne in the 2nd quarter worth about $990,924,000. Deutsche Bank AG purchased a new stake in shares of Bio-Techne in the 2nd quarter valued at about $49,578,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Bio-Techne in the 2nd quarter valued at about $203,000. 98.95% of the stock is owned by institutional investors.

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $72.22 on Wednesday. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.62. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 62.80, a price-to-earnings-growth ratio of 8.62 and a beta of 1.28. The company has a fifty day moving average of $68.15 and a 200-day moving average of $59.33. 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 posted its quarterly earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share 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 business had revenue of $321.19 million during the quarter, compared to the consensus estimate of $314.63 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts expect that Bio-Techne Corp will post 1.76 EPS for the current year.

Bio-Techne Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Bio-Techne in a research report on Tuesday, August 4th. William Blair downgraded shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft lowered 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. Stephens set a $73.00 target price on Bio-Techne and gave the company an “equal weight” rating in a research note on Friday, June 26th. Finally, Benchmark downgraded Bio-Techne from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bio-Techne presently has a consensus rating of “Hold” and a consensus target price of $68.92.

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.