Bleakley Financial Group LLC Acquires 214 Shares of Bio-Techne Co. (NASDAQ:TECH)

Bleakley Financial Group LLC increased its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 6.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,773 shares of the biotechnology company’s stock after purchasing an additional 214 shares during the quarter. Bleakley Financial Group LLC’s holdings in Bio-Techne were worth $302,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of TECH. Price T Rowe Associates Inc. MD increased its stake in Bio-Techne by 92.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after purchasing an additional 2,755,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Bio-Techne by 20.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after acquiring an additional 290,510 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Bio-Techne by 8.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after acquiring an additional 216,044 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after acquiring an additional 88,257 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Bio-Techne by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock worth $64,082,000 after acquiring an additional 76,641 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Bio-Techne Trading Down 0.9 %

Shares of Bio-Techne stock opened at $69.34 on Thursday. The business has a fifty day simple moving average of $73.95 and a two-hundred day simple moving average of $74.47. Bio-Techne Co. has a 1 year low of $51.79 and a 1 year high of $85.57. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 66.67, a P/E/G ratio of 5.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business had revenue of $306.10 million during the quarter, compared to the consensus estimate of $306.49 million. During the same quarter last year, the firm posted $0.56 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Research analysts forecast that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s dividend payout ratio is currently 30.77%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TECH shares. Royal Bank of Canada decreased 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. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th. Finally, Robert W. Baird raised their price target 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. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.