Principal Financial Group Inc. Increases Holdings in Bio-Techne Co. (NASDAQ:TECH)

Principal Financial Group Inc. boosted its position in Bio-Techne Co. (NASDAQ:TECH) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 261,900 shares of the biotechnology company’s stock after buying an additional 1,843 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Bio-Techne worth $20,934,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Oddo BHF Asset Management Sas acquired a new stake in shares of Bio-Techne in the third quarter worth $1,188,000. Synovus Financial Corp grew its position in Bio-Techne by 1.5% during the 3rd quarter. Synovus Financial Corp now owns 13,223 shares of the biotechnology company’s stock worth $1,057,000 after purchasing an additional 198 shares during the period. Tidal Investments LLC raised its stake in shares of Bio-Techne by 17.7% during the 3rd quarter. Tidal Investments LLC now owns 28,940 shares of the biotechnology company’s stock valued at $2,313,000 after buying an additional 4,356 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Bio-Techne by 55.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,651 shares of the biotechnology company’s stock valued at $372,000 after buying an additional 1,656 shares during the period. Finally, World Investment Advisors LLC boosted its stake in shares of Bio-Techne by 4.8% in the third quarter. World Investment Advisors LLC now owns 21,957 shares of the biotechnology company’s stock worth $1,755,000 after buying an additional 1,000 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Trading Up 0.4 %

Shares of TECH stock opened at $73.03 on Thursday. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. The stock’s fifty day moving average is $73.30 and its two-hundred day moving average is $74.36. The firm has a market capitalization of $11.60 billion, a P/E ratio of 77.69, a PEG ratio of 5.52 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. Research analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne’s dividend payout ratio is currently 34.04%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Scotiabank lifted 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, October 31st. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird increased their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Bio-Techne 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.