PEAK6 Investments LLC purchased a new position in Bio-Techne Co. (NASDAQ:TECH - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,732 shares of the biotechnology company's stock, valued at approximately $698,000.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Bio-Techne by 20.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company's stock valued at $122,879,000 after buying an additional 290,510 shares in the last quarter. Mackenzie Financial Corp lifted 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 in the last quarter. Broadcrest Asset Management LLC lifted its stake 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 purchasing an additional 100,000 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company's stock worth $185,559,000 after purchasing an additional 88,257 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bio-Techne by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company's stock worth $64,082,000 after purchasing an additional 76,641 shares during the period. Institutional investors and hedge funds own 98.95% of the company's stock.
Bio-Techne Stock Up 0.7 %
Shares of Bio-Techne stock traded up $0.50 during trading hours on Wednesday, hitting $75.55. 299,944 shares of the company's stock traded hands, compared to its average volume of 1,018,501. The stock has a 50 day simple moving average of $73.50 and a 200-day simple moving average of $74.86. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The company has a market cap of $12.00 billion, a PE ratio of 79.42, a PEG ratio of 5.55 and a beta of 1.27. Bio-Techne Co. has a twelve month low of $61.16 and a twelve month high of $85.57.
Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. During the same period last year, the firm earned $0.35 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.
Bio-Techne Announces Dividend
The business also recently declared 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Bio-Techne's payout ratio is 34.04%.
Analysts Set New Price Targets
A number of research analysts have weighed in on TECH shares. StockNews.com raised Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Robert W. Baird increased their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Benchmark restated a "buy" rating and set a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Scotiabank upped their price objective on Bio-Techne from $83.00 to $88.00 and gave the stock a "sector outperform" rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada lowered their price target on Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $81.78.
Read Our Latest Analysis on TECH
Bio-Techne Company 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.
Featured Stories
Before you consider Bio-Techne, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bio-Techne wasn't on the list.
While Bio-Techne currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
