Worldquant Millennium Advisors LLC Buys 22,185 Shares of Bio-Techne Co. (NASDAQ:TECH)

Worldquant Millennium Advisors LLC boosted its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 22.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,934 shares of the biotechnology company's stock after acquiring an additional 22,185 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.08% of Bio-Techne worth $9,826,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TECH. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of 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 worth $122,879,000 after buying an additional 290,510 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Bio-Techne by 60.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,122 shares of the biotechnology company's stock worth $2,158,000 after acquiring an additional 11,371 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Bio-Techne by 9.8% during the second quarter. APG Asset Management N.V. now owns 81,138 shares of the biotechnology company's stock valued at $5,424,000 after acquiring an additional 7,275 shares during the period. Raymond James & Associates boosted its stake in shares of Bio-Techne by 4.2% in the 2nd quarter. Raymond James & Associates now owns 348,140 shares of the biotechnology company's stock valued at $24,944,000 after purchasing an additional 13,953 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Bio-Techne by 89.1% in the 2nd quarter. XTX Topco Ltd now owns 17,043 shares of the biotechnology company's stock valued at $1,221,000 after purchasing an additional 8,032 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Benchmark reissued a "buy" rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Robert W. Baird lifted their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Scotiabank increased their price target on Bio-Techne from $83.00 to $88.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 31st. Finally, StockNews.com raised Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Bio-Techne presently has a consensus rating of "Moderate Buy" and an average price target of $82.00.

Bio-Techne Trading Up 0.8 %

NASDAQ:TECH traded up $0.62 during trading hours on Friday, hitting $74.51. 497,245 shares of the stock were exchanged, compared to its average volume of 1,003,266. The company has a market capitalization of $11.84 billion, a P/E ratio of 79.27, a price-to-earnings-growth ratio of 5.54 and a beta of 1.27. 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's 50 day moving average is $73.35 and its two-hundred day moving average is $74.75. 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 issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share. On average, sell-side analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm 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. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne's dividend payout ratio is 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.