Bio-Techne Co. (NASDAQ:TECH) Stock Position Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in Bio-Techne Co. (NASDAQ:TECH) by 59.4% during the third quarter, Holdings Channel reports. The institutional investor owned 171,348 shares of the biotechnology company’s stock after selling 250,770 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Bio-Techne were worth $13,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Empirical Finance LLC boosted its stake in shares of Bio-Techne by 4.1% during the 3rd quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company’s stock worth $326,000 after acquiring an additional 160 shares in the last quarter. First City Capital Management Inc. increased its position in Bio-Techne by 6.2% in the 1st quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after purchasing an additional 185 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Bio-Techne by 3.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,333 shares of the biotechnology company’s stock valued at $426,000 after acquiring an additional 200 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Bio-Techne by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 205 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in Bio-Techne by 51.5% during the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 208 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TECH has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price 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. Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank increased their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada cut their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.78.

Bio-Techne Stock Up 3.5 %

Shares of TECH opened at $68.72 on Thursday. Bio-Techne Co. has a 12 month low of $61.16 and a 12 month high of $85.57. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 73.11, a P/E/G ratio of 4.93 and a beta of 1.28. The company has a 50-day moving average price of $73.88 and a two-hundred day moving average price of $75.31. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 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 analyst estimates of $280.22 million. During the same quarter in the previous year, the firm earned $0.35 EPS. Bio-Techne’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a $0.08 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.47%. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

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.