Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,307 shares of the biotechnology company’s stock after selling 671 shares during the period. Private Advisor Group LLC’s holdings in Bio-Techne were worth $1,623,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. UniSuper Management Pty Ltd boosted its stake 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Bio-Techne by 20.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock worth $14,125,000 after buying an additional 33,709 shares during the last quarter. Tidal Investments LLC boosted its stake in Bio-Techne by 135.5% in the 1st quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock worth $2,252,000 after buying an additional 18,404 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Bio-Techne in the 1st quarter worth about $569,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Bio-Techne by 20.4% in 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 buying an additional 290,510 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada decreased their price target 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. Robert W. Baird raised their price target on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.60.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $76.02 on Thursday. The company has a market cap of $11.98 billion, a P/E ratio of 60.33, a PEG ratio of 4.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. Bio-Techne Co. has a one year low of $51.79 and a one year high of $85.57. The business’s 50-day simple moving average is $73.58 and its 200 day simple moving average is $74.52.

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

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Bio-Techne’s payout ratio is currently 25.40%.

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.