Charles Schwab Investment Management Inc. Boosts Position in Bio-Techne Corp $TECH

Charles Schwab Investment Management Inc. grew its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 2.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,552,440 shares of the biotechnology company’s stock after acquiring an additional 41,180 shares during the period. Charles Schwab Investment Management Inc. owned about 0.99% of Bio-Techne worth $79,873,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Park Avenue Securities LLC purchased a new position in Bio-Techne during the second quarter valued at approximately $270,000. Segall Bryant & Hamill LLC raised its stake in Bio-Techne by 9.5% in the second quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock valued at $29,100,000 after buying an additional 48,838 shares during the last quarter. Fifth Third Bancorp boosted its stake in Bio-Techne by 142.7% in the 2nd quarter. Fifth Third Bancorp now owns 17,696 shares of the biotechnology company’s stock worth $910,000 after purchasing an additional 10,404 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Bio-Techne by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 49,542 shares of the biotechnology company’s stock worth $2,549,000 after buying an additional 457 shares during the period. Finally, Nordea Investment Management AB grew its stake in Bio-Techne by 20.9% during the 2nd quarter. Nordea Investment Management AB now owns 43,864 shares of the biotechnology company’s stock valued at $2,268,000 after purchasing an additional 7,582 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $64.35 on Friday. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $79.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46. The company has a 50 day moving average price of $60.08 and a 200 day moving average price of $54.93. The stock has a market capitalization of $10.03 billion, a P/E ratio of 139.88, a PEG ratio of 3.63 and a beta of 1.51.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $286.56 million for the quarter, compared to analyst estimates of $292.02 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.Bio-Techne’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. Equities research analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were paid a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne’s payout ratio is 65.31%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI set a $68.00 price objective on shares of Bio-Techne in a report on Thursday, November 6th. TD Cowen boosted their price objective on Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Bio-Techne in a research report on Wednesday, October 8th. Argus raised their price objective on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Finally, Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.92.

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.