Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its holdings in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 27.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 41,673 shares of the biotechnology company's stock after purchasing an additional 8,852 shares during the period. Mutual of America Capital Management LLC's holdings in Bio-Techne were worth $3,331,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TECH. Itau Unibanco Holding S.A. bought a new position in shares of Bio-Techne during the 2nd quarter valued at $25,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company's stock valued at $29,000 after buying an additional 369 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in shares of Bio-Techne during the 2nd quarter valued at $31,000. DT Investment Partners LLC bought a new position in shares of Bio-Techne during the 2nd quarter valued at $36,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Bio-Techne by 1,427.8% during the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company's stock valued at $39,000 after buying an additional 514 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Stock Up 0.3 %

Shares of NASDAQ:TECH opened at $71.28 on Friday. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 75.83, a PEG ratio of 5.19 and a beta of 1.28. Bio-Techne Co. has a 12 month low of $61.16 and a 12 month high of $85.57. The company has a 50-day moving average price of $73.84 and a 200 day moving average price of $75.28.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) 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 net margin of 12.86% and a return on equity of 12.76%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last 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 year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne's payout ratio is 34.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TECH shares. Benchmark restated a "buy" rating and issued a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Royal Bank of Canada cut their price target 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. Robert W. Baird increased their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Finally, Scotiabank increased their price target on Bio-Techne from $83.00 to $88.00 and gave the stock a "sector outperform" rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.78.

Bio-Techne Company 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.