Public Sector Pension Investment Board Purchases 2,649 Shares of Bio-Techne Co. (NASDAQ:TECH)

Public Sector Pension Investment Board lifted its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 76.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,130 shares of the biotechnology company’s stock after buying an additional 2,649 shares during the period. Public Sector Pension Investment Board’s holdings in Bio-Techne were worth $439,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 2,755,065 shares in the last quarter. Brown Capital Management LLC increased its stake in Bio-Techne by 12.4% in the 4th quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock valued at $273,994,000 after buying an additional 392,986 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Bio-Techne by 20.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after buying an additional 290,510 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Bio-Techne by 7,628.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 218,161 shares of the biotechnology company’s stock worth $16,833,000 after buying an additional 215,338 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Bio-Techne by 32.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 734,337 shares of the biotechnology company’s stock valued at $56,661,000 after acquiring an additional 181,376 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Performance

Shares of TECH stock opened at $74.00 on Friday. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of 58.73, a PEG ratio of 5.69 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. 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 $75.32 and a 200 day simple moving average of $74.18.

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

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio (DPR) is presently 25.40%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TECH shares. Robert W. Baird upped their target price on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Royal Bank of Canada cut their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus price target of $80.60.

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.