Point72 Europe London LLP Has $4.73 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Point72 Europe London LLP boosted its position in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 15.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,961 shares of the biotechnology company's stock after purchasing an additional 8,700 shares during the period. Point72 Europe London LLP's holdings in Bio-Techne were worth $4,726,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TECH. Itau Unibanco Holding S.A. acquired a new position in shares of Bio-Techne in the second quarter valued at approximately $25,000. Brown Brothers Harriman & Co. grew its holdings 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 acquiring an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Bio-Techne in the 2nd quarter valued at approximately $31,000. Mather Group LLC. bought a new position in shares of Bio-Techne during the first quarter valued at $38,000. Finally, DT Investment Partners LLC acquired a new position in shares of Bio-Techne during the second quarter worth $36,000. 98.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of recent research reports. Benchmark restated a "buy" rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Robert W. Baird increased their price target on Bio-Techne from $81.00 to $82.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada cut their price objective 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. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Bio-Techne currently has a consensus rating of "Moderate Buy" and an average target price of $80.60.

Bio-Techne Trading Down 3.2 %

Shares of Bio-Techne stock traded down $2.47 on Wednesday, reaching $74.95. 674,417 shares of the company's stock were exchanged, compared to its average volume of 1,040,296. The company has a market capitalization of $11.89 billion, a P/E ratio of 59.43, a price-to-earnings-growth ratio of 5.58 and a beta of 1.27. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week 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. The firm's 50-day moving average is $75.20 and its two-hundred day moving average is $73.99.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. During the same period in the prior year, the firm earned $0.56 earnings per share. Bio-Techne's revenue was up 1.6% on a year-over-year basis. Sell-side analysts predict that Bio-Techne Co. will post 1.7 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne's payout ratio is 25.40%.

Bio-Techne 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.