Royal London Asset Management Ltd. Has $4.09 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

Royal London Asset Management Ltd. decreased its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,136 shares of the biotechnology company’s stock after selling 1,951 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Bio-Techne were worth $4,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First City Capital Management Inc. grew its holdings in shares of Bio-Techne by 6.2% during the first quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after purchasing an additional 185 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of Bio-Techne by 1.5% during the first quarter. WCM Investment Management LLC now owns 13,220 shares of the biotechnology company’s stock worth $931,000 after purchasing an additional 191 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Bio-Techne by 5.2% during the first quarter. Empirical Finance LLC now owns 3,957 shares of the biotechnology company’s stock worth $279,000 after purchasing an additional 195 shares during the last quarter. Wahed Invest LLC grew its holdings in shares of Bio-Techne by 9.0% during the fourth quarter. Wahed Invest LLC now owns 2,652 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 220 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Bio-Techne by 2.3% during the first quarter. Janney Montgomery Scott LLC now owns 10,164 shares of the biotechnology company’s stock worth $715,000 after purchasing an additional 227 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Price Performance

Shares of TECH opened at $74.67 on Friday. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $85.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. The business’s 50 day moving average price is $74.92 and its two-hundred day moving average price is $73.88. The firm has a market cap of $11.84 billion, a PE ratio of 59.26, a price-to-earnings-growth ratio of 4.95 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) 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 firm had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Bio-Techne Co. will post 1.71 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s payout ratio is 25.40%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TECH. Benchmark restated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Royal Bank of Canada reduced their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a report on Wednesday, May 22nd. Finally, Robert W. Baird upped their target price on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.60.

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.