Bio-Techne Co. (NASDAQ:TECH) Position Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in Bio-Techne Co. (NASDAQ:TECH) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,342 shares of the biotechnology company’s stock after buying an additional 803 shares during the period. PNC Financial Services Group Inc.’s holdings in Bio-Techne were worth $7,221,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Empirical Finance LLC increased its holdings in shares of Bio-Techne by 4.1% in 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 during the period. First City Capital Management Inc. raised its holdings in shares of Bio-Techne by 6.2% during the first quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock valued at $224,000 after buying an additional 185 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of 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 worth $426,000 after buying an additional 200 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in 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 worth $137,000 after buying an additional 205 shares in the last quarter. Finally, Mather Group LLC. increased its position in Bio-Techne by 51.5% in the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 208 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Scotiabank increased their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Benchmark restated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Robert W. Baird increased their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada dropped their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne Trading Up 0.3 %

Shares of NASDAQ:TECH opened at $71.28 on Friday. Bio-Techne Co. has a 1-year low of $61.16 and a 1-year high of $85.57. The company has a 50 day moving average price of $73.77 and a 200 day moving average price of $75.25. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 75.83, a PEG ratio of 5.19 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio is presently 34.04%.

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.