Teachers Retirement System of The State of Kentucky Sells 619 Shares of Bio-Techne Co. (NASDAQ:TECH)

Teachers Retirement System of The State of Kentucky reduced its stake in Bio-Techne Co. (NASDAQ:TECH) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,507 shares of the biotechnology company’s stock after selling 619 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Bio-Techne were worth $1,042,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Cerity Partners LLC grew its position in Bio-Techne by 831.4% during the 4th quarter. Cerity Partners LLC now owns 46,205 shares of the biotechnology company’s stock valued at $3,565,000 after purchasing an additional 41,244 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Bio-Techne by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company’s stock valued at $56,646,000 after buying an additional 118,534 shares during the last quarter. Sei Investments Co. increased its position in shares of Bio-Techne by 16.2% during the fourth quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock valued at $66,089,000 after acquiring an additional 119,295 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Bio-Techne by 55.3% in the 4th quarter. Hsbc Holdings PLC now owns 261,370 shares of the biotechnology company’s stock worth $20,166,000 after acquiring an additional 93,107 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in Bio-Techne by 9.7% in the 4th quarter. TD Asset Management Inc now owns 135,632 shares of the biotechnology company’s stock worth $10,465,000 after acquiring an additional 11,947 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Trading Down 1.2 %

NASDAQ:TECH opened at $73.66 on Monday. Bio-Techne Co. has a one year low of $51.79 and a one year high of $89.91. The business has a fifty day moving average price of $74.88 and a 200-day moving average price of $72.94. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 58.46, a price-to-earnings-growth ratio of 8.95 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The business had revenue of $303.43 million during the quarter, compared to analysts’ expectations of $292.36 million. During the same quarter in the prior year, the business posted $0.47 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts forecast that Bio-Techne Co. will post 1.56 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, May 10th. Bio-Techne’s dividend payout ratio is currently 25.40%.

Analyst Ratings Changes

A number of research firms have commented on TECH. Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Thursday, May 2nd. Robert W. Baird lifted their price objective on Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a research note on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.00.

Bio-Techne Company 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.