Tredje AP fonden Decreases Stake in Bio-Techne Co. (NASDAQ:TECH)

Tredje AP fonden cut its holdings in Bio-Techne Co. (NASDAQ:TECH) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,665 shares of the biotechnology company’s stock after selling 388 shares during the period. Tredje AP fonden’s holdings in Bio-Techne were worth $1,767,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TECH. First City Capital Management Inc. increased its position in shares of Bio-Techne by 6.2% during the first quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after acquiring an additional 185 shares during the last quarter. WCM Investment Management LLC lifted its position in Bio-Techne by 1.5% in the 1st quarter. WCM Investment Management LLC now owns 13,220 shares of the biotechnology company’s stock valued at $931,000 after purchasing an additional 191 shares during the last quarter. Empirical Finance LLC boosted its position 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 worth $279,000 after buying an additional 195 shares during the period. Wahed Invest LLC increased its holdings in shares of Bio-Techne by 9.0% during the fourth quarter. Wahed Invest LLC now owns 2,652 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 220 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Bio-Techne by 2.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,164 shares of the biotechnology company’s stock worth $715,000 after acquiring an additional 227 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on TECH. Royal Bank of Canada cut their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Robert W. Baird upped their target price 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, Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne Trading Down 2.6 %

NASDAQ:TECH opened at $78.30 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 firm’s fifty day moving average is $75.25 and its 200-day moving average is $73.99. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week high of $85.57. The firm has a market cap of $12.42 billion, a P/E ratio of 62.14, a P/E/G ratio of 5.06 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, hitting the consensus estimate of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $306.49 million. During the same quarter last year, the firm posted $0.56 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Equities analysts expect that Bio-Techne Co. will post 1.71 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Bio-Techne’s dividend payout ratio (DPR) is currently 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.