Natixis Advisors LLC raised its stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 11.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 158,056 shares of the biotechnology company's stock after purchasing an additional 16,328 shares during the period. Natixis Advisors LLC owned 0.10% of Bio-Techne worth $12,633,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Bio-Techne in the second quarter valued at about $25,000. Brown Brothers Harriman & Co. boosted its stake in Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 369 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in Bio-Techne during the 2nd quarter valued at approximately $31,000. DT Investment Partners LLC bought a new stake in shares of Bio-Techne during the second quarter valued at approximately $36,000. Finally, Versant Capital Management Inc boosted its position in shares of Bio-Techne by 1,427.8% during the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company's stock worth $39,000 after acquiring an additional 514 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.
Wall Street Analyst Weigh In
TECH has been the subject of several research reports. Benchmark reissued a "buy" rating and set a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Scotiabank raised their price target on Bio-Techne from $83.00 to $88.00 and gave the company a "sector outperform" rating in a report on Thursday, October 31st. Robert W. Baird upped their price objective on Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. StockNews.com raised shares of Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada decreased their price target on shares of Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.78.
Read Our Latest Research Report on Bio-Techne
Bio-Techne Trading Up 3.6 %
Bio-Techne stock traded up $2.47 during midday trading on Thursday, reaching $71.19. The stock had a trading volume of 1,061,162 shares, compared to its average volume of 1,029,793. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of 75.55, a price-to-earnings-growth ratio of 4.84 and a beta of 1.28. Bio-Techne Co. has a 52-week low of $61.16 and a 52-week high of $85.57. The company has a fifty day moving average of $73.88 and a 200 day moving average of $75.31.
Bio-Techne (NASDAQ:TECH - Get Free Report) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. On average, analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.
Bio-Techne Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.45%. Bio-Techne's dividend payout ratio (DPR) is currently 34.04%.
Bio-Techne Profile
(
Free Report)
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.
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