Private Advisor Group LLC Grows Position in Bio-Techne Co. (NASDAQ:TECH)

Private Advisor Group LLC grew its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 109.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,978 shares of the biotechnology company’s stock after purchasing an additional 10,947 shares during the period. Private Advisor Group LLC’s holdings in Bio-Techne were worth $1,503,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TECH. Price T Rowe Associates Inc. MD increased its holdings in Bio-Techne by 92.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock valued at $404,470,000 after buying 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 purchasing an additional 392,986 shares in the last quarter. Mairs & Power Inc. raised its holdings in Bio-Techne by 0.8% during the fourth quarter. Mairs & Power Inc. now owns 3,079,483 shares of the biotechnology company’s stock worth $237,613,000 after purchasing an additional 25,903 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Bio-Techne by 14.0% during the first 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 in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Bio-Techne by 20.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock valued at $122,879,000 after buying an additional 290,510 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

TECH has been the subject of several recent research reports. Robert W. Baird raised their target price on shares of Bio-Techne from $81.00 to $82.00 and gave the company 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 research report on Thursday, August 8th. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a report on Wednesday, May 22nd. Finally, Benchmark restated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.60.

Bio-Techne Stock Up 2.0 %

TECH opened at $74.67 on Friday. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $85.57. The business has a 50-day moving average of $74.92 and a two-hundred day moving average of $73.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 59.26, a price-to-earnings-growth ratio of 4.95 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. On average, research analysts expect that Bio-Techne Co. will post 1.71 earnings per share for the current year.

Bio-Techne Dividend Announcement

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