Venturi Wealth Management LLC Has $76,000 Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Venturi Wealth Management LLC lifted its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 58.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 947 shares of the biotechnology company’s stock after purchasing an additional 348 shares during the quarter. Venturi Wealth Management LLC’s holdings in Bio-Techne were worth $76,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in Bio-Techne by 2.3% in the first quarter. Janney Montgomery Scott LLC now owns 10,164 shares of the biotechnology company’s stock valued at $715,000 after purchasing an additional 227 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Bio-Techne by 10.7% in the 1st quarter. Bleakley Financial Group LLC now owns 3,104 shares of the biotechnology company’s stock valued at $218,000 after buying an additional 301 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Bio-Techne by 13.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,707 shares of the biotechnology company’s stock worth $613,000 after buying an additional 1,005 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Bio-Techne by 3.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 197,160 shares of the biotechnology company’s stock worth $14,627,000 after acquiring an additional 5,917 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Bio-Techne by 20.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock valued at $14,125,000 after acquiring an additional 33,709 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Performance

Shares of TECH stock opened at $72.54 on Friday. The firm has a 50 day moving average of $74.31 and a 200-day moving average of $75.37. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 77.17, a price-to-earnings-growth ratio of 5.43 and a beta of 1.28. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 52 week low of $60.04 and a 52 week high of $85.57.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results 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 net margin of 12.86% and a return on equity of 12.76%. The business had revenue of $289.46 million during the quarter, compared to analysts’ expectations of $280.22 million. During the same period last year, the company posted $0.35 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company 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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is currently 34.04%.

Analyst Upgrades and Downgrades

TECH has been the topic of a number of recent research reports. Scotiabank lifted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada reduced their price target on 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 restated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Robert W. Baird increased their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.