Elo Mutual Pension Insurance Co Reduces Holdings in Bio-Techne Co. (NASDAQ:TECH)

Elo Mutual Pension Insurance Co trimmed its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,136 shares of the biotechnology company’s stock after selling 314 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Bio-Techne were worth $1,013,000 at the end of the most recent quarter.

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

Bio-Techne Trading Down 2.6 %

Shares of Bio-Techne stock opened at $78.30 on Friday. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $85.57. 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 business has a 50-day moving average price of $75.25 and a 200-day moving average price of $73.99. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 5.06 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. Equities research analysts anticipate that Bio-Techne Co. will post 1.71 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s payout ratio is 25.40%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Robert W. Baird lifted their target price on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, 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 research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne 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.