New York State Common Retirement Fund trimmed its position in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 22.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 521,913 shares of the biotechnology company's stock after selling 147,371 shares during the quarter. New York State Common Retirement Fund owned about 0.33% of Bio-Techne worth $41,717,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. UniSuper Management Pty Ltd raised its stake in shares of Bio-Techne by 563.1% in the first quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company's stock worth $967,000 after purchasing an additional 11,667 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Bio-Techne by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company's stock worth $14,125,000 after purchasing an additional 33,709 shares during the last quarter. Tidal Investments LLC raised its position in Bio-Techne by 135.5% during the first quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company's stock valued at $2,252,000 after acquiring an additional 18,404 shares in the last quarter. Seven Eight Capital LP purchased a new position in Bio-Techne during the first quarter valued at approximately $569,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Bio-Techne by 20.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company's stock valued at $122,879,000 after acquiring an additional 290,510 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on TECH. 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 reduced their price target on Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating for the company in a research report on Thursday, August 8th. Robert W. Baird lifted their price target on Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a research report on Thursday. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Scotiabank boosted their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a "sector outperform" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $81.78.
Read Our Latest Stock Report on TECH
Bio-Techne Price Performance
Shares of NASDAQ:TECH traded up $1.56 during trading on Friday, reaching $75.31. The stock had a trading volume of 984,000 shares, compared to its average volume of 910,102. The business has a fifty day moving average price of $73.75 and a 200-day moving average price of $74.67. The stock has a market cap of $11.95 billion, a PE ratio of 80.12, a PEG ratio of 5.33 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.75 and a current ratio of 4.56. Bio-Techne Co. has a 1-year low of $52.99 and a 1-year high of $85.57.
Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, equities analysts forecast that Bio-Techne Co. will post 1.7 earnings per share for the current fiscal year.
Bio-Techne Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, November 8th. Bio-Techne's dividend payout ratio (DPR) is currently 34.04%.
Bio-Techne Profile
(
Free Report)
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.
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