Bradley Foster & Sargent Inc. CT Has $762,000 Position in Bio-Techne Co. (NASDAQ:TECH)

Bradley Foster & Sargent Inc. CT cut its position in Bio-Techne Co. (NASDAQ:TECH) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,639 shares of the biotechnology company’s stock after selling 1,600 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Bio-Techne were worth $762,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of Bio-Techne by 19.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company’s stock worth $56,646,000 after acquiring an additional 118,534 shares during the last quarter. Sei Investments Co. grew its position in Bio-Techne by 16.2% in the 4th quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock worth $66,089,000 after purchasing an additional 119,295 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Bio-Techne by 55.3% during the 4th quarter. Hsbc Holdings PLC now owns 261,370 shares of the biotechnology company’s stock worth $20,166,000 after purchasing an additional 93,107 shares during the period. TD Asset Management Inc raised its position in shares of Bio-Techne by 9.7% during the fourth quarter. TD Asset Management Inc now owns 135,632 shares of the biotechnology company’s stock valued at $10,465,000 after buying an additional 11,947 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Bio-Techne by 152.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 32,378 shares of the biotechnology company’s stock valued at $2,498,000 after buying an additional 19,530 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank of Canada cut their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Robert W. Baird boosted their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Four 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, Bio-Techne has an average rating of “Moderate Buy” and a consensus price target of $80.60.

Bio-Techne Price Performance

NASDAQ:TECH opened at $80.36 on Friday. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $85.57. The company’s 50-day moving average price is $75.23 and its two-hundred day moving average price is $73.96. The company has a quick ratio of 2.75, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The firm has a market cap of $12.75 billion, a PE ratio of 63.78, a price-to-earnings-growth ratio of 5.06 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts anticipate that Bio-Techne Co. will post 1.71 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company 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. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, August 19th. Bio-Techne’s dividend payout ratio (DPR) is presently 25.40%.

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.