Bio-Techne Co. (NASDAQ:TECH) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc increased its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 35.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 763 shares of the biotechnology company’s stock after purchasing an additional 198 shares during the quarter. Versant Capital Management Inc’s holdings in Bio-Techne were worth $55,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TECH. Itau Unibanco Holding S.A. acquired a new stake in Bio-Techne in the second quarter valued at approximately $25,000. Brown Brothers Harriman & Co. grew its position in Bio-Techne by 922.5% in the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 369 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Bio-Techne in the third quarter valued at approximately $39,000. Quest Partners LLC acquired a new stake in Bio-Techne in the third quarter valued at approximately $43,000. Finally, Mather Group LLC. grew its position in Bio-Techne by 51.5% in the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of TECH opened at $73.79 on Monday. The business’s fifty day moving average price is $73.72 and its 200 day moving average price is $74.17. Bio-Techne Co. has a 12-month low of $61.16 and a 12-month high of $85.57. The stock has a market capitalization of $11.72 billion, a PE ratio of 78.50, a price-to-earnings-growth ratio of 5.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $289.46 million for the quarter, compared to analysts’ expectations of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. Equities research analysts forecast that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne’s payout ratio is 34.04%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TECH shares. Scotiabank increased their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird raised their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.00.

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.