International Assets Investment Management LLC Makes New Investment in Bio-Techne Co. (NASDAQ:TECH)

International Assets Investment Management LLC acquired a new position in Bio-Techne Co. (NASDAQ:TECH) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,551 shares of the biotechnology company’s stock, valued at approximately $8,430,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First City Capital Management Inc. grew its holdings in Bio-Techne by 6.2% in the first quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after purchasing an additional 185 shares during the period. Empirical Finance LLC grew its holdings in shares of Bio-Techne by 5.2% during the first quarter. Empirical Finance LLC now owns 3,957 shares of the biotechnology company’s stock valued at $279,000 after buying an additional 195 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings 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 valued at $137,000 after buying an additional 205 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Bio-Techne by 51.5% during the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 208 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of Bio-Techne by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 3,773 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TECH shares. Robert W. Baird increased their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday. Scotiabank increased their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday. Benchmark reiterated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Finally, Royal Bank of Canada cut 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 report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and a consensus target price of $81.60.

Bio-Techne Stock Down 3.0 %

TECH opened at $73.75 on Friday. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $85.57. The company has a market capitalization of $11.62 billion, a PE ratio of 58.53, a PEG ratio of 4.96 and a beta of 1.27. The firm’s 50 day simple moving average is $73.64 and its two-hundred day simple moving average is $74.54.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business had revenue of $306.10 million for the quarter, compared to the consensus estimate of $306.49 million. During the same period last year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities analysts forecast that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed 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 is Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s payout ratio is 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.