California State Teachers Retirement System boosted its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,371 shares of the biotechnology company’s stock after acquiring an additional 720 shares during the period. California State Teachers Retirement System owned about 0.16% of BIO-TECHNE worth $11,813,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Flagship Harbor Advisors LLC acquired a new position in BIO-TECHNE in the 2nd quarter valued at $27,000. Advisory Services Network LLC increased its stake in BIO-TECHNE by 183.3% in the second quarter. Advisory Services Network LLC now owns 153 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 99 shares during the last quarter. Quest Capital Management Inc. ADV acquired a new position in BIO-TECHNE in the third quarter valued at $54,000. HM Payson & Co. purchased a new position in BIO-TECHNE during the second quarter worth about $63,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in BIO-TECHNE during the second quarter worth about $77,000. 93.13% of the stock is currently owned by institutional investors.
Several research firms have commented on TECH. ValuEngine cut BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Leerink Swann restated an “outperform” rating and issued a $240.00 target price (up from $230.00) on shares of BIO-TECHNE in a report on Thursday, September 26th. Zacks Investment Research lowered shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. Finally, TheStreet raised shares of BIO-TECHNE from a “c+” rating to a “b-” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $224.50.
Shares of NASDAQ:TECH opened at $215.53 on Wednesday. The business has a 50-day moving average of $208.99 and a two-hundred day moving average of $203.58. The firm has a market capitalization of $8.31 billion, a PE ratio of 56.72, a P/E/G ratio of 4.67 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.44 and a quick ratio of 3.41. BIO-TECHNE Corp has a 12 month low of $132.75 and a 12 month high of $222.87.
BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.14. The business had revenue of $183.24 million during the quarter, compared to analysts’ expectations of $179.38 million. BIO-TECHNE had a return on equity of 13.36% and a net margin of 12.68%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, research analysts anticipate that BIO-TECHNE Corp will post 4.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, November 7th. BIO-TECHNE’s payout ratio is currently 33.68%.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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