National Bank of Canada FI Purchases 37,181 Shares of Bio-Techne Co. (NASDAQ:TECH)

National Bank of Canada FI raised its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 86.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,436 shares of the biotechnology company's stock after acquiring an additional 37,181 shares during the quarter. National Bank of Canada FI owned about 0.05% of Bio-Techne worth $6,429,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TECH. State Street Corp raised its holdings in shares of Bio-Techne by 1.5% during the third quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company's stock valued at $511,232,000 after purchasing an additional 95,133 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Bio-Techne by 8.2% during the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company's stock valued at $205,081,000 after purchasing an additional 216,044 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Bio-Techne by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company's stock valued at $185,559,000 after purchasing an additional 88,257 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of 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 purchasing an additional 290,510 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Bio-Techne during the third quarter valued at about $89,724,000. Institutional investors own 98.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Robert W. Baird upped their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, Scotiabank upped their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a "sector outperform" rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Bio-Techne has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

Bio-Techne Stock Performance

TECH traded down $0.99 on Friday, hitting $75.69. The company's stock had a trading volume of 487,423 shares, compared to its average volume of 1,010,048. The company's 50 day simple moving average is $73.32 and its 200-day simple moving average is $74.68. The firm has a market cap of $12.03 billion, a P/E ratio of 81.58, a price-to-earnings-growth ratio of 5.61 and a beta of 1.27. Bio-Techne Co. has a 12 month low of $61.16 and a 12 month high of $85.57. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business had revenue of $289.46 million for the quarter, compared to analysts' expectations of $280.22 million. During the same period in the prior year, the company posted $0.35 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts forecast that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne's dividend payout ratio (DPR) is currently 34.04%.

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.