Wahed Invest LLC Has $301,000 Position in Bio-Techne Co. (NASDAQ:TECH)

Wahed Invest LLC boosted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,771 shares of the biotechnology company’s stock after acquiring an additional 423 shares during the quarter. Wahed Invest LLC’s holdings in Bio-Techne were worth $301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECH. Point72 Asset Management L.P. bought a new position in Bio-Techne during the third quarter valued at approximately $89,724,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Bio-Techne by 20.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock valued at $122,879,000 after acquiring an additional 290,510 shares in the last quarter. Point72 DIFC Ltd bought a new position in Bio-Techne during the third quarter valued at approximately $20,071,000. Mackenzie Financial Corp raised its position in shares of Bio-Techne by 8.2% in the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock valued at $205,081,000 after purchasing an additional 216,044 shares during the period. Finally, Broadcrest Asset Management LLC raised its position in shares of Bio-Techne by 100.0% in the third quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock valued at $15,986,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Up 0.8 %

TECH opened at $74.51 on Friday. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The firm’s fifty day moving average price is $73.35 and its two-hundred day moving average price is $74.81. The company has a market capitalization of $11.84 billion, a P/E ratio of 79.27, a P/E/G ratio of 5.54 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last issued its 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 net margin of 12.86% and a return on equity of 12.76%. The company had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. During the same quarter in the previous year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were paid a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio is presently 34.04%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank boosted their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. 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. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. 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 company currently has an average rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne 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.