Susquehanna Portfolio Strategies LLC Has $11.43 Million Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Susquehanna Portfolio Strategies LLC lessened its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 16.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 159,560 shares of the biotechnology company’s stock after selling 31,833 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Bio-Techne were worth $11,432,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in Bio-Techne by 92.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock valued at $404,470,000 after acquiring an additional 2,755,065 shares during the period. Brown Capital Management LLC increased its holdings in Bio-Techne by 12.4% during the 4th quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock valued at $273,994,000 after purchasing an additional 392,986 shares in the last quarter. Bank of New York Mellon Corp raised its position in Bio-Techne by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,862,526 shares of the biotechnology company’s stock valued at $201,493,000 after purchasing an additional 351,645 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Bio-Techne by 20.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after purchasing an additional 290,510 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Bio-Techne by 8.2% in the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock valued at $205,081,000 after buying an additional 216,044 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $78.72 on Friday. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 62.48, a P/E/G ratio of 5.59 and a beta of 1.27. The firm’s 50 day simple moving average is $75.24 and its 200 day simple moving average is $74.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business had revenue of $306.10 million for the quarter, compared to the consensus estimate of $306.49 million. During the same period last year, the company posted $0.56 EPS. Bio-Techne’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Bio-Techne Co. will post 1.7 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.08 per share. 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TECH. Robert W. Baird increased their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Finally, Royal Bank of Canada decreased their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.60.

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.