Edgestream Partners L.P. Trims Position in Bio-Techne Co. (NASDAQ:TECH)

Edgestream Partners L.P. lessened its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 35.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,956 shares of the biotechnology company's stock after selling 20,591 shares during the period. Edgestream Partners L.P.'s holdings in Bio-Techne were worth $2,648,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Bio-Techne by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company's stock worth $56,646,000 after purchasing an additional 118,534 shares during the period. Sei Investments Co. grew its stake in Bio-Techne by 16.2% during the fourth quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company's stock valued at $66,089,000 after acquiring an additional 119,295 shares in the last quarter. Hsbc Holdings PLC grew its stake in Bio-Techne by 55.3% during the fourth quarter. Hsbc Holdings PLC now owns 261,370 shares of the biotechnology company's stock valued at $20,166,000 after acquiring an additional 93,107 shares in the last quarter. TD Asset Management Inc lifted its stake in Bio-Techne by 9.7% in the 4th quarter. TD Asset Management Inc now owns 135,632 shares of the biotechnology company's stock worth $10,465,000 after purchasing an additional 11,947 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Bio-Techne by 152.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 32,378 shares of the biotechnology company's stock valued at $2,498,000 after purchasing an additional 19,530 shares during the period. Institutional investors own 98.95% of the company's stock.

Bio-Techne Trading Up 5.0 %

Shares of TECH stock traded up $3.85 on Thursday, hitting $80.36. 1,532,857 shares of the company's stock traded hands, compared to its average volume of 1,041,983. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 64.17, a P/E/G ratio of 5.06 and a beta of 1.27. The company's fifty day simple moving average is $75.15 and its 200 day simple moving average is $73.92. Bio-Techne Co. has a one year low of $51.79 and a one year high of $85.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.49. The firm had revenue of $306.10 million for the quarter, compared to analysts' expectations of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.56 earnings per share. Equities analysts forecast that Bio-Techne Co. will post 1.71 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Bio-Techne's dividend payout ratio is currently 25.40%.

Analyst Ratings Changes

Several research analysts have recently weighed in on TECH shares. Robert W. Baird upped their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Benchmark reiterated a "buy" rating and set a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Royal Bank of Canada decreased their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup lowered shares of Bio-Techne from a "buy" rating to a "neutral" rating and set a $85.00 target price for the company. in a research report on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.60.

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.