Bio-Techne Co. (NASDAQ:TECH) Stock Holdings Lowered by Affiance Financial LLC

Affiance Financial LLC cut its position in Bio-Techne Co. (NASDAQ:TECH) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,831 shares of the biotechnology company’s stock after selling 595 shares during the quarter. Affiance Financial LLC’s holdings in Bio-Techne were worth $1,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TECH. Dimensional Fund Advisors LP lifted its stake in shares of Bio-Techne by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company’s stock worth $56,646,000 after acquiring an additional 118,534 shares during the period. Sei Investments Co. raised its stake in shares of Bio-Techne by 16.2% in the 4th quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock worth $66,089,000 after buying an additional 119,295 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Bio-Techne by 55.3% in the fourth quarter. Hsbc Holdings PLC now owns 261,370 shares of the biotechnology company’s stock valued at $20,166,000 after buying an additional 93,107 shares during the period. TD Asset Management Inc boosted its stake in Bio-Techne by 9.7% during the fourth quarter. TD Asset Management Inc now owns 135,632 shares of the biotechnology company’s stock valued at $10,465,000 after buying an additional 11,947 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Bio-Techne by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,439,919 shares of the biotechnology company’s stock worth $111,104,000 after acquiring an additional 28,095 shares during the period. Institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, May 22nd. Royal Bank of Canada decreased 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 research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Robert W. Baird raised their price objective on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and a consensus target price of $80.60.

Bio-Techne Stock Performance

Shares of TECH stock opened at $73.99 on Tuesday. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 58.72, a P/E/G ratio of 5.16 and a beta of 1.27. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $85.57. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $74.76 and its 200-day simple moving average is $73.84.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. During the same quarter in the previous year, the business posted $0.56 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts predict that Bio-Techne Co. will post 1.66 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, August 19th. Bio-Techne’s payout ratio is presently 25.40%.

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.