Sumitomo Mitsui Trust Group Inc. lessened its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,686,362 shares of the biotechnology company's stock after selling 28,632 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.06% of Bio-Techne worth $134,791,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of TECH. WCM Investment Management LLC boosted its stake in shares of Bio-Techne by 32.8% in the 3rd quarter. WCM Investment Management LLC now owns 22,891 shares of the biotechnology company's stock valued at $1,802,000 after purchasing an additional 5,659 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Bio-Techne by 58.1% in the third quarter. Venturi Wealth Management LLC now owns 947 shares of the biotechnology company's stock valued at $76,000 after buying an additional 348 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Bio-Techne during the third quarter worth $125,000. Jensen Investment Management Inc. increased its holdings in shares of Bio-Techne by 5.2% during the third quarter. Jensen Investment Management Inc. now owns 54,760 shares of the biotechnology company's stock worth $4,377,000 after buying an additional 2,700 shares in the last quarter. Finally, Montanaro Asset Management Ltd lifted its stake in shares of Bio-Techne by 6.0% in the 3rd quarter. Montanaro Asset Management Ltd now owns 323,000 shares of the biotechnology company's stock valued at $25,817,000 after acquiring an additional 18,200 shares during the last quarter. Institutional investors own 98.95% of the company's stock.
Bio-Techne Stock Up 2.0 %
TECH traded up $1.52 during midday trading on Wednesday, hitting $75.93. The company had a trading volume of 1,455,997 shares, compared to its average volume of 1,012,650. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 80.02, a PEG ratio of 5.43 and a beta of 1.28. The stock's 50 day moving average price is $74.21 and its 200 day moving average price is $75.39. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 52 week low of $58.99 and a 52 week high of $85.57.
Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million for 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 firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS. On average, research analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.
Bio-Techne Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.42%. Bio-Techne's payout ratio is 34.04%.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on TECH shares. Robert W. Baird increased their target price on Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Benchmark reiterated a "buy" rating and set a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. 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 for the company in a research report on Thursday, August 8th. StockNews.com raised shares of Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Scotiabank raised their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Bio-Techne currently has a consensus rating of "Moderate Buy" and an average target price of $81.78.
View Our Latest Research Report on Bio-Techne
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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