XTX Topco Ltd Raises Stock Position in Bio-Techne Co. (NASDAQ:TECH)

XTX Topco Ltd grew its holdings in Bio-Techne Co. (NASDAQ:TECH) by 89.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,043 shares of the biotechnology company’s stock after purchasing an additional 8,032 shares during the quarter. XTX Topco Ltd’s holdings in Bio-Techne were worth $1,221,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TECH. Blair William & Co. IL grew its stake in shares of Bio-Techne by 3.9% in the second quarter. Blair William & Co. IL now owns 103,118 shares of the biotechnology company’s stock worth $7,388,000 after acquiring an additional 3,838 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Bio-Techne by 17.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,321 shares of the biotechnology company’s stock valued at $1,167,000 after purchasing an additional 2,390 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Bio-Techne by 18.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,553 shares of the biotechnology company’s stock worth $398,000 after purchasing an additional 872 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Bio-Techne by 59.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 32,821 shares of the biotechnology company’s stock worth $2,352,000 after purchasing an additional 12,234 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Bio-Techne in the 2nd quarter valued at about $1,591,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Down 2.6 %

TECH opened at $78.30 on Friday. Bio-Techne Co. has a one year low of $51.79 and a one year high of $85.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. The stock has a market capitalization of $12.42 billion, a P/E ratio of 62.14, a price-to-earnings-growth ratio of 5.06 and a beta of 1.27. The business’s 50-day simple moving average is $75.25 and its 200-day simple moving average is $73.99.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. The company had revenue of $306.10 million during 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 firm’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 earned $0.56 earnings per share. Analysts anticipate that Bio-Techne Co. will post 1.71 EPS for the current year.

Bio-Techne Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird increased their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.60.

Bio-Techne Profile

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.