Amundi Buys 19,844 Shares of Bio-Techne Corp $TECH

Amundi boosted its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,174 shares of the biotechnology company’s stock after buying an additional 19,844 shares during the period. Amundi owned approximately 0.18% of Bio-Techne worth $15,166,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Segall Bryant & Hamill LLC boosted its stake in Bio-Techne by 9.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock worth $29,100,000 after purchasing an additional 48,838 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Bio-Techne in the second quarter worth about $270,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Bio-Techne by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock worth $79,873,000 after buying an additional 41,180 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Bio-Techne by 142.7% during the second quarter. Fifth Third Bancorp now owns 17,696 shares of the biotechnology company’s stock valued at $910,000 after buying an additional 10,404 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position 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 valued at $2,549,000 after acquiring an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

TECH opened at $60.83 on Thursday. The company’s 50 day moving average is $61.44 and its 200 day moving average is $55.71. The company has a current ratio of 4.22, a quick ratio of 2.81 and a debt-to-equity ratio of 0.15. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 124.15, a PEG ratio of 3.85 and a beta of 1.46. Bio-Techne Corp has a 12-month low of $46.01 and a 12-month high of $79.28.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The business had revenue of $286.56 million for the quarter, compared to the consensus estimate of $292.02 million. During the same period last year, the firm earned $0.42 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts predict that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on TECH shares. Evercore ISI set a $68.00 price objective on Bio-Techne in a research report on Thursday, November 6th. Cowen restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Citigroup upgraded Bio-Techne from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $70.00 in a report on Thursday, August 21st. Finally, Royal Bank Of Canada upgraded shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus target price of $70.92.

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.