Janus Henderson Group PLC reduced its holdings in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 9.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 997,166 shares of the biotechnology company's stock after selling 109,321 shares during the period. Janus Henderson Group PLC owned about 0.63% of Bio-Techne worth $79,703,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Bio-Techne during the 2nd quarter worth $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 369 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in shares of Bio-Techne in the 2nd quarter valued at $31,000. DT Investment Partners LLC purchased a new position in shares of Bio-Techne in the 2nd quarter valued at $36,000. Finally, Brooklyn Investment Group purchased a new position in shares of Bio-Techne in the 3rd quarter valued at $39,000. 98.95% of the stock is owned by institutional investors.
Bio-Techne Trading Down 2.6 %
TECH traded down $2.00 during trading hours on Thursday, reaching $73.89. The company's stock had a trading volume of 722,105 shares, compared to its average volume of 1,018,502. 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 $11.74 billion, a PE ratio of 80.73, a P/E/G ratio of 5.48 and a beta of 1.27. The business's 50-day moving average is $73.52 and its 200-day moving average is $74.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26.
Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $289.46 million for the quarter, compared to analysts' expectations 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 was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, equities research analysts predict 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. Investors of record on Monday, November 11th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne's dividend payout ratio (DPR) is presently 34.04%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on TECH shares. Benchmark reiterated a "buy" rating and issued a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Scotiabank lifted 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 lifted their price target on Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Royal Bank of Canada dropped their target price on 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. Finally, StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.78.
Get Our Latest Analysis on Bio-Techne
About Bio-Techne
(
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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