Segall Bryant & Hamill LLC Has $38.20 Million Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Segall Bryant & Hamill LLC increased its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 17.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 477,880 shares of the biotechnology company’s stock after buying an additional 72,011 shares during the quarter. Segall Bryant & Hamill LLC owned 0.30% of Bio-Techne worth $38,197,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Bio-Techne during the second quarter worth about $25,000. Brown Brothers Harriman & Co. grew its stake in shares of Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 369 shares during the period. Industrial Alliance Investment Management Inc. bought a new stake in shares of Bio-Techne in the 2nd quarter valued at approximately $31,000. DT Investment Partners LLC bought a new stake in shares of Bio-Techne in the 2nd quarter valued at approximately $36,000. Finally, Quest Partners LLC bought a new stake in shares of Bio-Techne in the 3rd quarter valued at approximately $43,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Trading Down 0.7 %

Shares of NASDAQ:TECH opened at $66.37 on Wednesday. Bio-Techne Co. has a 52-week low of $61.11 and a 52-week high of $85.57. The company has a market capitalization of $10.55 billion, a P/E ratio of 70.61, a price-to-earnings-growth ratio of 4.93 and a beta of 1.28. The company has a 50-day simple moving average of $73.97 and a 200 day simple moving average of $75.35. 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 quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. Sell-side analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a $0.08 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.48%. Bio-Techne’s payout ratio is 34.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird upped their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Scotiabank upped their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada lowered their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.