California State Teachers Retirement System Buys 787 Shares of Bio-Techne Co. (NASDAQ:TECH)

California State Teachers Retirement System increased its position in shares of Bio-Techne Co. (NASDAQ:TECHFree Report) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 239,791 shares of the biotechnology company’s stock after purchasing an additional 787 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Bio-Techne worth $18,502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. CVA Family Office LLC purchased a new position in shares of Bio-Techne in the fourth quarter valued at $31,000. First Horizon Advisors Inc. boosted its stake in Bio-Techne by 57.9% during the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 191 shares during the period. GAMMA Investing LLC purchased a new position in Bio-Techne during the fourth quarter worth about $44,000. Federated Hermes Inc. purchased a new stake in shares of Bio-Techne in the 3rd quarter valued at about $47,000. Finally, Clear Street Markets LLC lifted its position in Bio-Techne by 255.8% during the third quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 527 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $78.83 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08. The company has a 50 day simple moving average of $73.30 and a two-hundred day simple moving average of $71.89. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $89.91. The company has a market capitalization of $12.42 billion, a price-to-earnings ratio of 62.56, a P/E/G ratio of 9.52 and a beta of 1.29.

Bio-Techne (NASDAQ:TECHGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The company had revenue of $303.43 million during the quarter, compared to analyst estimates of $292.36 million. During the same quarter last year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts expect that Bio-Techne Co. will post 1.56 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Bio-Techne’s dividend payout ratio is currently 25.40%.

Analysts Set New Price Targets

Several research firms have commented on TECH. Benchmark reissued a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Thursday, May 2nd. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research note on Wednesday, May 22nd. Scotiabank initiated coverage on Bio-Techne in a research note on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price objective for the company. Robert W. Baird upped their price target on shares of Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

Check Out Our Latest Report on TECH

Bio-Techne 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.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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