Steph & Co. Decreases Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Steph & Co. lowered its holdings in Bio-Techne Co. (NASDAQ:TECH) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,116 shares of the biotechnology company’s stock after selling 171 shares during the period. Steph & Co.’s holdings in Bio-Techne were worth $152,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Bio-Techne by 60.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,122 shares of the biotechnology company’s stock valued at $2,158,000 after purchasing an additional 11,371 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Bio-Techne during the 3rd quarter valued at about $1,188,000. APG Asset Management N.V. lifted its position in Bio-Techne by 9.8% during the 2nd quarter. APG Asset Management N.V. now owns 81,138 shares of the biotechnology company’s stock worth $5,424,000 after acquiring an additional 7,275 shares in the last quarter. XTX Topco Ltd boosted its holdings in Bio-Techne by 89.1% in the 2nd quarter. XTX Topco Ltd now owns 17,043 shares of the biotechnology company’s stock worth $1,221,000 after acquiring an additional 8,032 shares during the period. Finally, Quest Partners LLC acquired a new stake in Bio-Techne in the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

TECH has been the topic of a number of recent research reports. 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. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Scotiabank lifted their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Bio-Techne Stock Up 0.5 %

NASDAQ:TECH opened at $75.13 on Thursday. The stock has a 50-day simple moving average of $73.79 and a 200 day simple moving average of $74.26. Bio-Techne Co. has a one year low of $61.16 and a one year high of $85.57. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 79.93, a price-to-earnings-growth ratio of 5.40 and a beta of 1.27. 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 results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS. Sell-side analysts predict that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) 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.