Bio-Techne Co. (NASDAQ:TECH) Position Raised by Cerity Partners LLC

Cerity Partners LLC grew its stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 52.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,729 shares of the biotechnology company's stock after acquiring an additional 54,134 shares during the quarter. Cerity Partners LLC owned about 0.10% of Bio-Techne worth $12,607,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in Bio-Techne by 8.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company's stock valued at $205,081,000 after acquiring an additional 216,044 shares during the period. Massachusetts Financial Services Co. MA increased its position in Bio-Techne by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company's stock worth $185,559,000 after buying an additional 88,257 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Bio-Techne by 20.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company's stock worth $122,879,000 after acquiring an additional 290,510 shares during the period. Geneva Capital Management LLC boosted its position in Bio-Techne by 1.6% during the third quarter. Geneva Capital Management LLC now owns 1,104,310 shares of the biotechnology company's stock worth $88,267,000 after purchasing an additional 17,114 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Bio-Techne by 1.3% in the first quarter. Janus Henderson Group PLC now owns 995,824 shares of the biotechnology company's stock valued at $70,095,000 after acquiring an additional 12,991 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Robert W. Baird upped their target price on Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Benchmark reiterated a "buy" rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Scotiabank upped their target price on Bio-Techne from $83.00 to $88.00 and gave the company a "sector outperform" rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada dropped their target price on Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.78.

Bio-Techne Trading Up 0.8 %

NASDAQ:TECH traded up $0.56 on Tuesday, hitting $74.95. 460,672 shares of the stock were exchanged, compared to its average volume of 1,026,066. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. The stock has a market cap of $11.91 billion, a PE ratio of 78.65, a PEG ratio of 5.20 and a beta of 1.28. The stock has a fifty day moving average of $73.76 and a 200-day moving average of $75.18.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. During the same quarter last year, the firm earned $0.35 earnings per share. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Bio-Techne's payout ratio is currently 34.04%.

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.