Gulf International Bank UK Ltd Reduces Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Gulf International Bank UK Ltd decreased its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 5.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,394 shares of the biotechnology company’s stock after selling 663 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Bio-Techne were worth $990,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Bio-Techne during the 2nd quarter worth $25,000. Brown Brothers Harriman & Co. boosted its holdings in Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Bio-Techne in the 2nd quarter valued at approximately $31,000. DT Investment Partners LLC acquired a new stake in shares of Bio-Techne during the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc raised its position in shares of Bio-Techne by 1,427.8% during the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 514 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of TECH opened at $75.96 on Friday. The company has a market cap of $12.07 billion, a P/E ratio of 80.81, a PEG ratio of 5.54 and a beta of 1.28. Bio-Techne Co. has a fifty-two week low of $55.63 and a fifty-two week high of $85.57. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average price is $74.14 and its 200 day moving average price is $75.07.

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

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, November 8th. Bio-Techne’s dividend payout ratio is presently 34.04%.

Wall Street Analyst Weigh In

TECH has been the subject of several recent analyst reports. Royal Bank of Canada cut 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. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Robert W. Baird upped their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Scotiabank boosted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.78.

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.