Forsta AP Fonden Has $2.36 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Forsta AP Fonden decreased its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,000 shares of the biotechnology company’s stock after selling 1,400 shares during the quarter. Forsta AP Fonden’s holdings in Bio-Techne were worth $2,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC increased its position in Bio-Techne by 12.1% in the fourth quarter. Private Advisor Group LLC now owns 7,772 shares of the biotechnology company’s stock worth $600,000 after purchasing an additional 841 shares during the period. Dimensional Fund Advisors LP boosted 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 valued at $56,646,000 after purchasing an additional 118,534 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Bio-Techne by 18.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,953 shares of the biotechnology company’s stock worth $12,044,000 after buying an additional 25,508 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Bio-Techne by 33.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,705 shares of the biotechnology company’s stock valued at $903,000 after buying an additional 2,958 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in Bio-Techne by 40.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,120 shares of the biotechnology company’s stock valued at $86,000 after buying an additional 323 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Up 2.0 %

Shares of TECH stock opened at $74.67 on Monday. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 59.26, a P/E/G ratio of 4.95 and a beta of 1.27. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $85.57. The firm has a fifty day moving average of $74.92 and a 200-day moving average of $73.89. The company has a quick ratio of 2.75, a current ratio of 3.87 and a debt-to-equity ratio of 0.15.

Bio-Techne (NASDAQ:TECH) last released 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. The firm had revenue of $306.10 million for the quarter, compared to the consensus estimate of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. As a group, equities research analysts predict that Bio-Techne Co. will post 1.71 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

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

Analysts Set New Price Targets

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