Allworth Financial LP Buys 813 Shares of Bio-Techne Co. (NASDAQ:TECH)

Allworth Financial LP raised its stake in Bio-Techne Co. (NASDAQ:TECH) by 91.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,699 shares of the biotechnology company’s stock after acquiring an additional 813 shares during the period. Allworth Financial LP’s holdings in Bio-Techne were worth $136,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. UniSuper Management Pty Ltd grew its holdings in shares of Bio-Techne by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock worth $967,000 after purchasing an additional 11,667 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Bio-Techne by 20.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock worth $14,125,000 after buying an additional 33,709 shares during the last quarter. Tidal Investments LLC grew its stake in Bio-Techne by 135.5% during the first quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock worth $2,252,000 after buying an additional 18,404 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Bio-Techne during the first quarter worth approximately $569,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake 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 valued at $122,879,000 after acquiring an additional 290,510 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TECH shares. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Robert W. Baird lifted their price target on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price objective 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.60.

Bio-Techne Trading Up 7.5 %

Shares of NASDAQ TECH opened at $76.02 on Thursday. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The firm has a market capitalization of $11.98 billion, a P/E ratio of 60.33, a P/E/G ratio of 4.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. The company’s 50 day simple moving average is $73.58 and its 200 day simple moving average is $74.52.

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, hitting the consensus estimate of $0.49. The business had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $0.56 EPS. On average, analysts predict that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Bio-Techne’s payout ratio is currently 25.40%.

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.