Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,118 shares of the biotechnology company’s stock after buying an additional 36,353 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.27% of Bio-Techne worth $30,246,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. lifted its stake in Bio-Techne by 922.5% during the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Bio-Techne during the second quarter worth $31,000. DT Investment Partners LLC bought a new position in Bio-Techne during the second quarter worth $36,000. Mather Group LLC. bought a new position in Bio-Techne during the first quarter worth $38,000. Finally, Versant Capital Management Inc lifted its stake in Bio-Techne by 1,427.8% during the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 514 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Royal Bank of Canada reduced their price objective 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. Finally, Robert W. Baird raised their target price on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.60.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $77.21 on Tuesday. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The firm’s 50-day simple moving average is $75.25 and its 200 day simple moving average is $73.99. 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 stock has a market cap of $12.17 billion, a P/E ratio of 61.28, a P/E/G ratio of 5.06 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. During the same period in the previous year, the business earned $0.56 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Equities analysts expect that Bio-Techne Co. will post 1.71 EPS for the current 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 was Monday, August 19th. Bio-Techne’s dividend payout ratio 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.