Public Employees Retirement System of Ohio Has $2.55 Million Stake in Bio-Techne Corp $TECH

Public Employees Retirement System of Ohio lifted its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,542 shares of the biotechnology company’s stock after acquiring an additional 457 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Bio-Techne were worth $2,549,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Bio-Techne by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,375,279 shares of the biotechnology company’s stock worth $666,933,000 after buying an additional 721,012 shares during the period. Select Equity Group L.P. lifted its holdings in Bio-Techne by 129.8% during the 1st quarter. Select Equity Group L.P. now owns 5,366,003 shares of the biotechnology company’s stock worth $314,609,000 after buying an additional 3,030,644 shares during the period. Invesco Ltd. lifted its holdings in Bio-Techne by 9.7% during the 1st quarter. Invesco Ltd. now owns 4,190,115 shares of the biotechnology company’s stock worth $245,666,000 after buying an additional 369,651 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Bio-Techne by 18.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,025,409 shares of the biotechnology company’s stock worth $177,380,000 after buying an additional 472,847 shares during the period. Finally, Champlain Investment Partners LLC lifted its holdings in Bio-Techne by 1.2% during the 1st quarter. Champlain Investment Partners LLC now owns 2,448,322 shares of the biotechnology company’s stock worth $143,545,000 after buying an additional 28,668 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TECH. Wall Street Zen downgraded Bio-Techne from a “buy” rating to a “hold” rating in a report on Sunday, June 8th. Scotiabank cut their target price on Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating on the stock in a report on Friday, July 11th. Benchmark reaffirmed a “buy” rating and set a $75.00 target price on shares of Bio-Techne in a report on Thursday, June 5th. Citigroup raised Bio-Techne from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $70.00 in a report on Thursday, August 21st. Finally, Royal Bank Of Canada raised Bio-Techne from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.42.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $59.92 on Thursday. Bio-Techne Corp has a one year low of $46.01 and a one year high of $80.80. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 130.26, a PEG ratio of 3.55 and a beta of 1.48. The business has a 50-day simple moving average of $53.98 and a 200 day simple moving average of $52.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business had revenue of $316.96 million during the quarter, compared to analyst estimates of $315.14 million. During the same period in the previous year, the company posted $0.49 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, research analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 18th. Bio-Techne’s payout ratio is presently 69.57%.

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.