Tokio Marine Asset Management Co. Ltd. Has $426,000 Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Tokio Marine Asset Management Co. Ltd. boosted its stake in Bio-Techne Co. (NASDAQ:TECH) by 3.9% in the third quarter, Holdings Channel reports. The institutional investor owned 5,333 shares of the biotechnology company’s stock after acquiring an additional 200 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Bio-Techne were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. 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 worth $224,000 after acquiring an additional 185 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Bio-Techne by 12.0% in the second 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 in the last quarter. 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 worth $49,000 after purchasing an additional 208 shares during the last quarter. Huntington National Bank raised its stake in shares of Bio-Techne by 38.5% during the 3rd quarter. Huntington National Bank now owns 756 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 210 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Bio-Techne by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,773 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 214 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analysts Set New Price Targets

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

Bio-Techne Stock Performance

TECH opened at $67.57 on Friday. 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 stock’s 50 day moving average price is $74.23 and its two-hundred day moving average price is $75.48. The firm has a market capitalization of $10.74 billion, a P/E ratio of 71.88, a price-to-earnings-growth ratio of 5.54 and a beta of 1.28. Bio-Techne Co. has a 12-month low of $60.53 and a 12-month high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced 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 net margin of 12.86% and a return on equity of 12.76%. 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 posted $0.35 earnings per share. Bio-Techne’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, November 8th. Bio-Techne’s 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.