Toronto Dominion Bank Sells 13,585 Shares of Bio-Techne Co. (NASDAQ:TECH)

Toronto Dominion Bank cut its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 15.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,830 shares of the biotechnology company’s stock after selling 13,585 shares during the quarter. Toronto Dominion Bank’s holdings in Bio-Techne were worth $5,505,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Bio-Techne by 92.1% during 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 in the last quarter. Brown Capital Management LLC raised its stake in Bio-Techne by 12.4% during the 4th quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock worth $273,994,000 after buying an additional 392,986 shares during the period. Mairs & Power Inc. boosted its holdings in Bio-Techne by 0.8% in the fourth quarter. Mairs & Power Inc. now owns 3,079,483 shares of the biotechnology company’s stock worth $237,613,000 after acquiring an additional 25,903 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Bio-Techne by 3.5% in 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 period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased 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 in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TECH. Benchmark reiterated a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Robert W. Baird raised their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada decreased their target price 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. According to data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.60.

Bio-Techne Trading Up 0.8 %

Shares of TECH stock opened at $78.72 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 62.48, a PEG ratio of 5.59 and a beta of 1.27. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $85.57. The company has a 50-day simple moving average of $75.24 and a two-hundred day simple moving average of $74.05.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting 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 12.88% and a net margin of 14.50%. Bio-Techne’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. Research analysts anticipate that Bio-Techne Co. will post 1.7 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced 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. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s dividend payout ratio is presently 25.40%.

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.