Assenagon Asset Management S.A. Has $2.18 Million Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Assenagon Asset Management S.A. decreased its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 33.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,260 shares of the biotechnology company's stock after selling 13,954 shares during the period. Assenagon Asset Management S.A.'s holdings in Bio-Techne were worth $2,179,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in Bio-Techne in the 2nd quarter valued at $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of Bio-Techne by 922.5% in the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Bio-Techne in the second quarter valued at about $31,000. DT Investment Partners LLC acquired a new stake in shares of Bio-Techne during the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc boosted 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 worth $39,000 after buying an additional 514 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TECH shares. Royal Bank of Canada lowered their price target on shares of Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating on the stock in a report on Thursday, August 8th. Scotiabank increased their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a "sector outperform" rating in a research note on Thursday. Benchmark reiterated a "buy" rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Robert W. Baird boosted their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.60.

Bio-Techne Price Performance

Shares of TECH stock traded up $1.71 during trading hours on Friday, reaching $75.46. The company's stock had a trading volume of 664,777 shares, compared to its average volume of 1,018,159. Bio-Techne Co. has a fifty-two week low of $52.99 and a fifty-two week high of $85.57. The firm's 50 day simple moving average is $73.69 and its 200-day simple moving average is $74.53. The company has a quick ratio of 2.75, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 80.32, a PEG ratio of 5.49 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. Bio-Techne's revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Sell-side analysts forecast that Bio-Techne Co. will post 1.7 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, November 8th. Bio-Techne's payout ratio is 34.04%.

About Bio-Techne

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.