Thrivent Financial for Lutherans lowered its position in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 59.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 171,348 shares of the biotechnology company's stock after selling 250,770 shares during the period. Thrivent Financial for Lutherans owned 0.11% of Bio-Techne worth $13,696,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TECH. Seven Eight Capital LP bought a new position in shares of Bio-Techne in the first quarter valued at approximately $569,000. UniSuper Management Pty Ltd lifted its holdings 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 valued at $967,000 after purchasing an additional 11,667 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Bio-Techne by 117.6% in the first quarter. Bessemer Group Inc. now owns 40,776 shares of the biotechnology company's stock valued at $2,870,000 after purchasing an additional 22,037 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Bio-Techne by 8.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 58,798 shares of the biotechnology company's stock valued at $4,140,000 after purchasing an additional 4,457 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Bio-Techne by 1.6% in the first quarter. Toronto Dominion Bank now owns 90,415 shares of the biotechnology company's stock valued at $6,364,000 after purchasing an additional 1,391 shares in the last quarter. Institutional investors own 98.95% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on TECH shares. Benchmark restated a "buy" rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Royal Bank of Canada dropped their price target on Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating on the stock in a report on Thursday, August 8th. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Robert W. Baird lifted their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, Scotiabank lifted their price target on 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 seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.78.
Read Our Latest Analysis on Bio-Techne
Bio-Techne Stock Performance
NASDAQ:TECH opened at $68.72 on Thursday. 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 business has a fifty day simple moving average of $73.88 and a two-hundred day simple moving average of $75.31. Bio-Techne Co. has a 1 year low of $61.16 and a 1 year high of $85.57. The company has a market capitalization of $10.92 billion, a P/E ratio of 73.11, a P/E/G ratio of 4.84 and a beta of 1.28.
Bio-Techne (NASDAQ:TECH - Get Free Report) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business 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 business posted $0.35 earnings per share. The business's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current year.
Bio-Techne Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, November 8th. Bio-Techne's dividend payout ratio (DPR) is presently 34.04%.
About Bio-Techne
(
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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