Bio-Techne Co. (NASDAQ:TECH) Position Lifted by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 674.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,378 shares of the biotechnology company’s stock after acquiring an additional 1,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Bio-Techne were worth $110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Bio-Techne during the second quarter worth $25,000. Brown Brothers Harriman & Co. raised 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 worth $29,000 after purchasing an additional 369 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Bio-Techne during the second quarter worth $31,000. DT Investment Partners LLC acquired a new stake in shares of Bio-Techne during the second quarter worth $36,000. Finally, Mather Group LLC. acquired a new stake in shares of Bio-Techne during the first quarter worth $38,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Down 0.3 %

Bio-Techne stock opened at $73.59 on Wednesday. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week high of $85.57. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $74.27 and its two-hundred day moving average price is $74.39. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 70.76, a PEG ratio of 5.27 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share 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 company had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. During the same quarter last year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts expect that Bio-Techne Co. will post 1.7 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, August 19th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio (DPR) is 23.08%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TECH shares. Royal Bank of Canada dropped 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. 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. Finally, Benchmark reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.60.

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.