APG Asset Management N.V. Acquires 7,275 Shares of Bio-Techne Co. (NASDAQ:TECH)

APG Asset Management N.V. raised its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,138 shares of the biotechnology company’s stock after acquiring an additional 7,275 shares during the quarter. APG Asset Management N.V. owned about 0.05% of Bio-Techne worth $5,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of TECH. Price T Rowe Associates Inc. MD raised its holdings in Bio-Techne by 92.1% during the 1st 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 shares of Bio-Techne by 12.4% in the fourth quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock worth $273,994,000 after purchasing an additional 392,986 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of 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 during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of Bio-Techne by 7,628.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 218,161 shares of the biotechnology company’s stock worth $16,833,000 after purchasing an additional 215,338 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Bio-Techne by 32.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 734,337 shares of the biotechnology company’s stock worth $56,661,000 after purchasing an additional 181,376 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

NASDAQ TECH opened at $78.72 on Monday. The company has a 50-day simple moving average of $75.24 and a two-hundred day simple moving average of $74.06. The company has a quick ratio of 2.75, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. 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 $12.49 billion, a price-to-earnings ratio of 62.48, a PEG ratio of 5.59 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 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 company’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts forecast that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued 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 dividend yield of 0.41%. Bio-Techne’s dividend payout ratio is currently 25.40%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Robert W. Baird upped their target price on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada cut their target price on shares of 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 currently has an average rating of “Moderate Buy” and an average target price of $80.60.

About Bio-Techne

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.