Bio-Techne draws fresh institutional cash as revenue climbs to $321M
What's the deal? Callan Family Office LLCDealroom has a profile for this one. Try Dealroom → has acquired a new stake in Bio-Techne CorpDealroom has a profile for this one. Try Dealroom → (NASDAQ:TECH), buying 22,045 shares worth about $1,557,000 in the second quarter, according to HoldingsChannel.com.
The bigger picture: Callan is one of several institutions that opened positions in the life sciences company last quarter. Madison Asset Management LLCDealroom has a profile for this one. Try Dealroom → bought a $75,134,000 stake, Ceredex Value Advisors LLCDealroom has a profile for this one. Try Dealroom → took $8,488,000, and B. Metzler seel. Sohn & Co. AGDealroom has a profile for this one. Try Dealroom → added $2,197,000. Institutional investors and hedge funds now own 98.95% of the company's stock.
What the numbers say: Bio-Techne posted quarterly revenue of $321.19 million on August 12, beating the $314.63 million analysts expected. Earnings of $0.52 per share met the consensus estimate, though revenue rose just 1.3% year on year.
What the company does: Bio-Techne develops, manufactures, and sells reagents, instruments, and services for life sciences research. It carries a market cap of $11.34 billion and a P/E ratio of 62.89.
Dividend boost: The company declared a quarterly dividend of $0.65 per share, payable September 4 — a sharp increase from its prior $0.08 payout. That works out to $2.60 annually and a 3.6% yield, with a payout ratio of 27.83%.
What could go wrong? Wall Street remains cautious. Analysts hold a consensus "hold" rating with an average price target of $68.92, below the $72.32 the stock opened at on Monday. CitigroupDealroom has a profile for this one. Try Dealroom → downgraded shares to "neutral" in June, and 14 of 17 analysts rate the stock a hold.
The signal: Heavy institutional buying alongside a modest revenue beat and a steep dividend hike points to steady demand for Bio-Techne — even as analysts wait for faster top-line growth to justify a premium valuation near its 12-month high.
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