Acadian Asset Management LLC Purchases New Position in Bio-Techne Co. (NASDAQ:TECH)

Acadian Asset Management LLC acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,676 shares of the biotechnology company’s stock, valued at approximately $120,000.

Several other hedge funds have also recently bought and sold shares of the stock. Industrial Alliance Investment Management Inc. bought a new position in shares of Bio-Techne during the second quarter worth approximately $31,000. DT Investment Partners LLC bought a new position in Bio-Techne during the 2nd quarter worth $36,000. Mather Group LLC. acquired a new stake in shares of Bio-Techne during the first quarter worth $38,000. Versant Capital Management Inc boosted its position in shares of Bio-Techne by 1,427.8% in the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 514 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Bio-Techne in the first quarter valued at about $43,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TECH has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reduced their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne Trading Down 2.6 %

Shares of TECH stock opened at $78.30 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The company has a market cap of $12.42 billion, a PE ratio of 62.14, a P/E/G ratio of 5.06 and a beta of 1.27. The stock’s fifty day moving average price is $75.25 and its two-hundred day moving average price is $73.99.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. Equities analysts predict that Bio-Techne Co. will post 1.71 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.08 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Bio-Techne’s dividend payout ratio is currently 25.40%.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.