Bio-Techne Co. (NASDAQ:TECH) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 754,344 shares of the biotechnology company's stock after purchasing an additional 20,277 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.47% of Bio-Techne worth $60,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TECH. Itau Unibanco Holding S.A. purchased a new stake in Bio-Techne in the 2nd quarter worth $25,000. Brown Brothers Harriman & Co. raised its stake in Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 369 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in Bio-Techne in the 2nd quarter worth approximately $31,000. Brooklyn Investment Group bought a new position in Bio-Techne in the 3rd quarter worth approximately $39,000. Finally, DT Investment Partners LLC bought a new stake in shares of Bio-Techne during the second quarter valued at approximately $36,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Down 1.3 %

Shares of Bio-Techne stock traded down $0.97 on Tuesday, reaching $75.05. The stock had a trading volume of 595,596 shares, compared to its average volume of 1,021,692. The stock has a market capitalization of $11.92 billion, a P/E ratio of 79.70, a P/E/G ratio of 5.55 and a beta of 1.27. Bio-Techne Co. has a 1 year low of $61.16 and a 1 year 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. The company has a 50 day moving average price of $73.55 and a 200 day moving average price of $74.92.

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

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Bio-Techne's dividend payout ratio (DPR) is 34.04%.

Wall Street Analyst Weigh In

TECH has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their target price on Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 8th. StockNews.com raised Bio-Techne from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Robert W. Baird lifted their target price on Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Scotiabank upped their price target 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. Finally, Benchmark reiterated a "buy" rating and set a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $81.78.

Bio-Techne Company 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.