XTX Topco Ltd Has $1.22 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

XTX Topco Ltd increased its stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 89.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,043 shares of the biotechnology company's stock after buying an additional 8,032 shares during the period. XTX Topco Ltd's holdings in Bio-Techne were worth $1,221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TECH. Dimensional Fund Advisors LP increased its stake in shares of Bio-Techne by 19.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company's stock worth $56,646,000 after buying an additional 118,534 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Bio-Techne by 40.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,120 shares of the biotechnology company's stock worth $86,000 after purchasing an additional 323 shares during the period. Norges Bank acquired a new position in Bio-Techne in the fourth quarter worth $119,771,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Bio-Techne by 126.5% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,465 shares of the biotechnology company's stock worth $345,000 after purchasing an additional 2,494 shares during the period. Finally, UBS Group AG boosted its holdings in Bio-Techne by 405.1% in the fourth quarter. UBS Group AG now owns 142,949 shares of the biotechnology company's stock worth $11,030,000 after purchasing an additional 114,648 shares during the period. Institutional investors own 98.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on TECH shares. Robert W. Baird lifted their price objective 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. Royal Bank of Canada reduced their price target on shares of Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating for the company in a report on Thursday, August 8th. Finally, Benchmark reissued a "buy" rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $80.60.

Bio-Techne Price Performance

Bio-Techne stock traded down $2.06 during midday trading on Friday, hitting $78.30. The company's stock had a trading volume of 1,558,282 shares, compared to its average volume of 1,044,820. The company has a quick ratio of 2.75, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The stock's 50-day moving average price is $75.25 and its 200-day moving average price is $73.99. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $85.57. The company has a market capitalization of $12.34 billion, a PE ratio of 62.14, a price-to-earnings-growth ratio of 5.06 and a beta of 1.27.

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

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, August 19th. This represents a $0.32 annualized dividend and a yield of 0.41%. Bio-Techne's payout ratio is presently 25.40%.

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.