Handelsbanken Fonder AB Has $23.40 Million Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Handelsbanken Fonder AB trimmed its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 12.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 292,748 shares of the biotechnology company’s stock after selling 41,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.18% of Bio-Techne worth $23,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Sei Investments Co. increased its holdings in shares of Bio-Techne by 16.2% in the 4th quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock valued at $66,089,000 after purchasing an additional 119,295 shares during the period. Tower Research Capital LLC TRC increased its stake in Bio-Techne by 152.0% in 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 buying an additional 19,530 shares during the period. UniSuper Management Pty Ltd lifted its position in Bio-Techne by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock worth $967,000 after buying an additional 11,667 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Bio-Techne by 20.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock valued at $14,125,000 after buying an additional 33,709 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Bio-Techne by 135.5% during the 1st quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock valued at $2,252,000 after acquiring an additional 18,404 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TECH. Benchmark reiterated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Robert W. Baird lifted their price target on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price objective 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. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.60.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH traded up $0.78 during trading on Friday, reaching $74.78. The stock had a trading volume of 703,858 shares, compared to its average volume of 842,009. The stock has a fifty day simple moving average of $75.11 and a two-hundred day simple moving average of $74.23. 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 Co. has a 52 week low of $51.79 and a 52 week high of $85.57. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 59.35, a P/E/G ratio of 5.59 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. The firm had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. As a group, analysts anticipate that Bio-Techne Co. will post 1.7 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, August 19th. Bio-Techne’s dividend payout ratio (DPR) is currently 25.40%.

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.