Bio-Techne Co. (NASDAQ:TECH) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in Bio-Techne Co. (NASDAQ:TECH) by 38.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,355 shares of the biotechnology company’s stock after purchasing an additional 3,148 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Bio-Techne were worth $894,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Bio-Techne by 92.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after purchasing an additional 2,755,065 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Bio-Techne by 8.2% during the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock valued at $205,081,000 after acquiring an additional 216,044 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Bio-Techne by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock valued at $185,559,000 after acquiring an additional 88,257 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Bio-Techne by 20.4% during 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. Finally, Janus Henderson Group PLC raised its holdings in shares of Bio-Techne by 1.3% during the first quarter. Janus Henderson Group PLC now owns 995,824 shares of the biotechnology company’s stock valued at $70,095,000 after acquiring an additional 12,991 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TECH. Royal Bank of Canada reduced their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird upped their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday. 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. Finally, Scotiabank upped their price target on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne Trading Up 2.1 %

Shares of Bio-Techne stock opened at $75.31 on Friday. The firm has a market capitalization of $11.95 billion, a price-to-earnings ratio of 80.12, a PEG ratio of 5.49 and a beta of 1.27. Bio-Techne Co. has a fifty-two week low of $52.99 and a fifty-two week high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.75 and a current ratio of 4.56. The stock has a 50 day moving average of $73.69 and a 200 day moving average of $74.53.

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. The company had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. As a group, research analysts predict that Bio-Techne Co. will post 1.7 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio is currently 34.04%.

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.