Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Xponance Inc.

Xponance Inc. lowered its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 40.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,101 shares of the biotechnology company’s stock after selling 14,075 shares during the quarter. Xponance Inc.’s holdings in Bio-Techne were worth $1,512,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TECH. Itau Unibanco Holding S.A. acquired a new position in shares of Bio-Techne during the second quarter valued at approximately $25,000. Brown Brothers Harriman & Co. grew its position in shares of Bio-Techne by 922.5% in the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Bio-Techne in the second quarter valued at approximately $31,000. DT Investment Partners LLC purchased a new stake in shares of Bio-Techne in the second quarter valued at approximately $36,000. Finally, Mather Group LLC. purchased a new stake in shares of Bio-Techne in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analysts Set New Price Targets

TECH has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Robert W. Baird upped their price target on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne Trading Up 0.8 %

Shares of Bio-Techne stock opened at $78.72 on Friday. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 62.48, a PEG ratio of 5.59 and a beta of 1.27. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. The stock has a 50 day moving average of $75.24 and a 200 day moving average of $74.05.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. During the same period in the prior year, the business posted $0.56 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts predict that Bio-Techne Co. will post 1.7 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.08 per share. The ex-dividend date was Monday, August 19th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Bio-Techne’s dividend payout ratio is currently 25.40%.

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.