Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. cut its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,780 shares of the biotechnology company’s stock after selling 312 shares during the quarter. Focus Financial Network Inc.’s holdings in Bio-Techne were worth $302,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Bio-Techne in the 2nd quarter worth about $25,000. Brown Brothers Harriman & Co. raised its position in 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 acquiring an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Bio-Techne in the second quarter valued at about $31,000. DT Investment Partners LLC acquired a new stake in shares of Bio-Techne in the second quarter valued at approximately $36,000. Finally, Versant Capital Management Inc increased its stake in shares of Bio-Techne by 1,427.8% during the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 514 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Price Performance

Bio-Techne stock opened at $75.31 on Monday. Bio-Techne Co. has a 1 year low of $52.99 and a 1 year 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 firm has a 50 day moving average price of $73.75 and a 200 day moving average price of $74.67. The company has a market cap of $11.95 billion, a price-to-earnings ratio of 80.12, a PEG ratio of 5.33 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. During the same period in the prior year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts predict that Bio-Techne Co. will post 1.7 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada decreased their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Scotiabank boosted their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday. Robert W. Baird raised their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Benchmark reissued a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.78.

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.