Atria Investments Inc Sells 903 Shares of Bio-Techne Co. (NASDAQ:TECH)

Atria Investments Inc decreased its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,885 shares of the biotechnology company’s stock after selling 903 shares during the quarter. Atria Investments Inc’s holdings in Bio-Techne were worth $470,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Bio-Techne during the second quarter valued at about $25,000. Brown Brothers Harriman & Co. lifted its stake in Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Bio-Techne in the 2nd quarter valued at $31,000. DT Investment Partners LLC bought a new position in shares of Bio-Techne in the second quarter worth $36,000. Finally, Versant Capital Management Inc raised its position in shares of Bio-Techne by 1,427.8% in the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after buying an additional 514 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TECH shares. 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 research note on Thursday, August 8th. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Scotiabank lifted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird upped their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus price target of $81.78.

Bio-Techne Trading Up 3.5 %

NASDAQ TECH opened at $68.72 on Thursday. The stock’s 50 day moving average is $73.88 and its 200 day moving average is $75.31. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $10.92 billion, a PE ratio of 73.11, a P/E/G ratio of 4.93 and a beta of 1.28. Bio-Techne Co. has a twelve month low of $61.16 and a twelve month high of $85.57.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The firm had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.35 earnings per share. Research analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.47%. Bio-Techne’s payout ratio is 34.04%.

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.