Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL lifted its holdings in Bio-Techne Co. (NASDAQ:TECH) by 3.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,118 shares of the biotechnology company’s stock after purchasing an additional 3,838 shares during the quarter. Blair William & Co. IL’s holdings in Bio-Techne were worth $7,388,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its holdings in shares of Bio-Techne by 922.5% during the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Bio-Techne during the 2nd quarter valued at approximately $31,000. DT Investment Partners LLC purchased a new position in shares of Bio-Techne in the second quarter worth $36,000. Mather Group LLC. acquired a new stake in shares of Bio-Techne during the first quarter worth $38,000. Finally, Versant Capital Management Inc grew its holdings in shares of Bio-Techne by 1,427.8% during the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 514 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TECH. Royal Bank of Canada reduced their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Robert W. Baird raised their price objective on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne Price Performance

NASDAQ:TECH opened at $78.30 on Friday. The stock has a 50 day moving average of $75.25 and a two-hundred day moving average of $73.99. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $85.57. The firm has a market cap of $12.42 billion, a P/E ratio of 62.14, a price-to-earnings-growth ratio of 5.06 and a beta of 1.27. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 EPS. On average, analysts expect that Bio-Techne Co. will post 1.71 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Bio-Techne’s payout ratio is 25.40%.

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.