Handelsbanken Fonder AB Has $23.40 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

Handelsbanken Fonder AB lowered its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 12.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 292,748 shares of the biotechnology company’s stock after selling 41,000 shares during the period. Handelsbanken Fonder AB’s holdings in Bio-Techne were worth $23,399,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Sei Investments Co. increased its stake in Bio-Techne by 16.2% during the fourth quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock valued at $66,089,000 after acquiring an additional 119,295 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Bio-Techne by 152.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 32,378 shares of the biotechnology company’s stock worth $2,498,000 after purchasing an additional 19,530 shares in the last quarter. UniSuper Management Pty Ltd increased its position in shares of Bio-Techne by 563.1% during the first quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock valued at $967,000 after purchasing an additional 11,667 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Bio-Techne by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock valued at $14,125,000 after purchasing an additional 33,709 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in Bio-Techne by 135.5% in the first quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock worth $2,252,000 after purchasing an additional 18,404 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

NASDAQ:TECH traded up $0.78 on Friday, reaching $74.78. The stock had a trading volume of 703,858 shares, compared to its average volume of 842,009. The company has a market capitalization of $11.86 billion, a P/E ratio of 59.35, a price-to-earnings-growth ratio of 5.59 and a beta of 1.27. The stock has a fifty day moving average price of $75.11 and a 200-day moving average price of $74.23. The company has a quick ratio of 2.75, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $85.57.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. Bio-Techne’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 EPS. Research analysts forecast that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Robert W. Baird boosted their price target 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 lowered their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $95.00 price target 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 given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.60.

Bio-Techne 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.