Czech National Bank Increases Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Czech National Bank boosted its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,101 shares of the biotechnology company’s stock after buying an additional 2,072 shares during the quarter. Czech National Bank’s holdings in Bio-Techne were worth $2,566,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new position in Bio-Techne during the second quarter worth about $564,000. Quarry LP lifted its position in shares of Bio-Techne by 2,275.6% during the second quarter. Quarry LP now owns 974 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 933 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Bio-Techne by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 205 shares in the last quarter. Creative Planning lifted its position in shares of Bio-Techne by 4.4% during the second quarter. Creative Planning now owns 33,942 shares of the biotechnology company’s stock worth $2,432,000 after purchasing an additional 1,437 shares in the last quarter. Finally, Peloton Wealth Strategists lifted its position in shares of Bio-Techne by 53.3% during the second quarter. Peloton Wealth Strategists now owns 4,600 shares of the biotechnology company’s stock worth $330,000 after purchasing an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Finally, Robert W. Baird raised their target price on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Four investment 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, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.60.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $73.36 on Friday. The firm’s fifty day moving average price is $74.35 and its 200 day moving average price is $74.33. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $85.57. 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 firm has a market cap of $11.64 billion, a price-to-earnings ratio of 70.54, a price-to-earnings-growth ratio of 5.27 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company had revenue of $306.10 million during the quarter, compared to the consensus estimate of $306.49 million. During the same quarter last year, the company earned $0.56 earnings per share. Bio-Techne’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, August 19th. Bio-Techne’s dividend payout ratio (DPR) is currently 23.08%.

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.