Oddo BHF Asset Management Sas Invests $1.19 Million in Bio-Techne Co. (NASDAQ:TECH)

Oddo BHF Asset Management Sas acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,865 shares of the biotechnology company's stock, valued at approximately $1,188,000.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in Bio-Techne during the 3rd quarter valued at $89,724,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings 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 worth $122,879,000 after purchasing an additional 290,510 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Bio-Techne in the 3rd quarter worth about $20,071,000. Mackenzie Financial Corp increased its stake in Bio-Techne by 8.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company's stock valued at $205,081,000 after buying an additional 216,044 shares during the last quarter. Finally, Broadcrest Asset Management LLC lifted its position in shares of Bio-Techne by 100.0% during the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company's stock worth $15,986,000 after buying an additional 100,000 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

NASDAQ:TECH traded down $0.99 on Friday, reaching $75.69. 487,423 shares of the company's stock were exchanged, compared to its average volume of 1,010,048. The stock has a fifty day simple moving average of $73.34 and a 200-day simple moving average of $74.61. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 80.52, a P/E/G ratio of 5.61 and a beta of 1.27.

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, beating analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. Bio-Techne's revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. As a group, sell-side analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

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

Analysts Set New Price Targets

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

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.