Lord Abbett & CO. LLC decreased its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 10.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 296,824 shares of the biotechnology company's stock after selling 36,339 shares during the period. Lord Abbett & CO. LLC owned approximately 0.19% of Bio-Techne worth $23,725,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TECH. Itau Unibanco Holding S.A. purchased a new stake in Bio-Techne during the 2nd quarter worth $25,000. Brown Brothers Harriman & Co. increased its stake in Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company's stock worth $29,000 after buying an additional 369 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in Bio-Techne in the 2nd quarter valued at about $31,000. DT Investment Partners LLC acquired a new position in shares of Bio-Techne in the second quarter worth about $36,000. Finally, Brooklyn Investment Group acquired a new stake in Bio-Techne during the 3rd quarter valued at approximately $39,000. 98.95% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on TECH shares. Robert W. Baird raised their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Finally, Scotiabank upped their price objective 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.00.
View Our Latest Stock Analysis on TECH
Bio-Techne Stock Performance
Shares of TECH traded up $0.47 during mid-day trading on Monday, reaching $76.16. 560,879 shares of the company's stock traded hands, compared to its average volume of 1,008,192. Bio-Techne Co. has a 12 month low of $61.16 and a 12 month high of $85.57. The stock has a market capitalization of $12.10 billion, a P/E ratio of 81.02, a price-to-earnings-growth ratio of 5.52 and a beta of 1.27. The business's 50-day moving average price is $73.39 and its 200-day moving average price is $74.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56.
Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company's quarterly revenue 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. Equities analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current year.
Bio-Techne Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, November 8th. Bio-Techne's dividend payout ratio (DPR) is presently 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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