10,639 Shares in Bio-Techne Corp $TECH Purchased by StoneX Group Inc.

StoneX Group Inc. purchased a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,639 shares of the biotechnology company’s stock, valued at approximately $768,000.

Several other hedge funds have also recently modified their holdings of TECH. BlackRock Inc. purchased a new position in Bio-Techne in the 2nd quarter valued at $990,924,000. HBK Investments L P purchased a new position in Bio-Techne during the 2nd quarter worth $482,186,000. Ruane Cunniff & Goldfarb L.P. raised its position 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 buying an additional 1,926,066 shares during the last quarter. Amundi raised its position in Bio-Techne by 2,426.8% during the 2nd quarter. Amundi now owns 1,827,241 shares of the biotechnology company’s stock worth $129,095,000 after buying an additional 1,754,926 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Bio-Techne during the 2nd quarter worth $90,305,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Trading Down 0.0%

Shares of TECH opened at $72.82 on Wednesday. The firm has a market capitalization of $11.44 billion, a P/E ratio of 63.32, a PEG ratio of 5.28 and a beta of 1.29. The firm’s 50-day moving average is $72.50 and its two-hundred day moving average is $63.41. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.88.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Friday, November 6th. The biotechnology company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. The firm had revenue of $299.71 million for the quarter, compared to analysts’ expectations of $292.60 million. Bio-Techne had a net margin of 14.00% and a return on equity of 11.56%. Analysts predict that Bio-Techne Corp will post 1.75 EPS for the current year.

Bio-Techne Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Friday, November 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.4%. This is a negative change from Bio-Techne’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, November 13th. Bio-Techne’s dividend payout ratio is 27.83%.

Analyst Ratings Changes

Several research firms have recently commented on TECH. Zacks Research upgraded shares of Bio-Techne from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. Benchmark reiterated a “hold” rating on shares of Bio-Techne in a research note on Wednesday, August 19th. Argus cut shares of Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 26th. Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, Wells Fargo & Company downgraded shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $62.00 to $73.00 in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $68.92.

About Bio-Techne

Bio-Techne is a life sciences company that develops and supplies products and services used in biological research, drug development, and clinical diagnostics. Its offerings include proteins, antibodies, immunoassays, and small molecules, as well as instruments and analytical tools for studying cells and biological processes. The company also provides technologies for protein analysis, molecular diagnostics, and spatial biology. Its portfolio includes products and services associated with brands such as R&D Systems, Tocris, ProteinSimple, and Advanced Cell Diagnostics.