Headlands Technologies LLC Increases Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Headlands Technologies LLC lifted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 1,281.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,398 shares of the biotechnology company’s stock after purchasing an additional 3,152 shares during the period. Headlands Technologies LLC’s holdings in Bio-Techne were worth $243,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Bio-Techne by 92.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after buying an additional 2,755,065 shares in the last quarter. Brown Capital Management LLC raised 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 purchasing an additional 392,986 shares during the last quarter. Mairs & Power Inc. lifted its holdings in Bio-Techne by 0.8% in the 4th quarter. Mairs & Power Inc. now owns 3,079,483 shares of the biotechnology company’s stock valued at $237,613,000 after purchasing an additional 25,903 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Bio-Techne by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,862,526 shares of the biotechnology company’s stock worth $201,493,000 after purchasing an additional 351,645 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Bio-Techne by 20.4% during the second 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. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a report on Wednesday, May 22nd. Royal Bank of Canada dropped their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Finally, Robert W. Baird increased their target price on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne Stock Up 2.0 %

Shares of NASDAQ:TECH opened at $74.67 on Friday. The stock has a 50-day simple moving average of $74.85 and a 200-day simple moving average of $73.86. The stock has a market capitalization of $11.84 billion, a P/E ratio of 59.03, a PEG ratio of 4.97 and a beta of 1.27. Bio-Techne Co. has a 1 year low of $51.79 and a 1 year high of $85.57. 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 (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. Equities analysts forecast that Bio-Techne Co. will post 1.71 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, August 19th. Bio-Techne’s dividend payout ratio is presently 25.40%.

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.