Blair William & Co. IL Purchases 3,838 Shares of Bio-Techne Co. (NASDAQ:TECH)

Blair William & Co. IL increased its holdings in Bio-Techne Co. (NASDAQ:TECH) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,118 shares of the biotechnology company’s stock after purchasing an additional 3,838 shares during the period. Blair William & Co. IL owned approximately 0.07% of Bio-Techne worth $7,388,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TECH. Vanguard Personalized Indexing Management LLC raised its position in shares of Bio-Techne by 17.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,321 shares of the biotechnology company’s stock valued at $1,167,000 after buying an additional 2,390 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Bio-Techne by 18.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 5,553 shares of the biotechnology company’s stock valued at $398,000 after purchasing an additional 872 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of Bio-Techne by 59.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 32,821 shares of the biotechnology company’s stock valued at $2,352,000 after purchasing an additional 12,234 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Bio-Techne in the 2nd quarter worth approximately $1,591,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Bio-Techne by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock worth $64,082,000 after purchasing an additional 76,641 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

TECH opened at $78.30 on Friday. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $75.25 and its 200-day simple moving average is $73.99. The company has a market capitalization 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 Co. has a 12-month low of $51.79 and a 12-month high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data 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 company had revenue of $306.10 million for 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%. Bio-Techne’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. On average, equities research analysts anticipate that Bio-Techne Co. will post 1.71 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed 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 dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s dividend payout ratio (DPR) is currently 25.40%.

Wall Street Analysts Forecast Growth

TECH has been the subject of several recent analyst reports. 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. Royal Bank of Canada dropped their price target on shares of 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. Finally, Benchmark reissued a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $80.60.

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.