Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in Bio-Techne Co. (NASDAQ:TECH) by 11.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,830 shares of the biotechnology company’s stock after acquiring an additional 700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Bio-Techne were worth $546,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its holdings in shares of Bio-Techne by 8.2% during the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock valued at $205,081,000 after purchasing an additional 216,044 shares during the period. Massachusetts Financial Services Co. MA increased its stake in 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 valued at $185,559,000 after buying an additional 88,257 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Bio-Techne by 20.4% during 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. Geneva Capital Management LLC lifted its stake in shares of Bio-Techne by 1.6% in the 3rd quarter. Geneva Capital Management LLC now owns 1,104,310 shares of the biotechnology company’s stock worth $88,267,000 after acquiring an additional 17,114 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Bio-Techne by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after acquiring an additional 76,641 shares during the period. Institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TECH. Scotiabank upped their target price 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. Robert W. Baird upped their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Benchmark reiterated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Bio-Techne Trading Up 0.8 %

NASDAQ:TECH opened at $74.51 on Monday. The stock has a fifty day simple moving average of $73.35 and a 200 day simple moving average of $74.69. The firm has a market capitalization of $11.84 billion, a price-to-earnings ratio of 79.27, a price-to-earnings-growth ratio of 5.54 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.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company had revenue of $289.46 million during the quarter, compared to analysts’ expectations of $280.22 million. During the same period last year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current 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 issued a dividend of $0.08 per share. The ex-dividend date was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio is 34.04%.

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.