International Assets Investment Management LLC Acquires Shares of 10,551 Bio-Techne Co. (NASDAQ:TECH)

International Assets Investment Management LLC acquired a new stake in shares of Bio-Techne Co. (NASDAQ:TECH) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,551 shares of the biotechnology company’s stock, valued at approximately $8,430,000.

Several other institutional investors also recently modified their holdings of the stock. First City Capital Management Inc. boosted its position in shares of Bio-Techne by 6.2% during the 1st quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after purchasing an additional 185 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Bio-Techne by 5.2% in the 1st quarter. Empirical Finance LLC now owns 3,957 shares of the biotechnology company’s stock worth $279,000 after acquiring an additional 195 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Bio-Techne by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock worth $137,000 after acquiring an additional 205 shares during the last quarter. Mather Group LLC. increased its stake in Bio-Techne by 51.5% in the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 208 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Bio-Techne by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,773 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 214 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of recent research reports. Royal Bank of Canada reduced their price objective 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. Scotiabank boosted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday. Benchmark reiterated a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Robert W. Baird boosted their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.60.

Bio-Techne Price Performance

TECH stock opened at $73.75 on Friday. Bio-Techne Co. has a 1 year low of $51.79 and a 1 year high of $85.57. The company has a market cap of $11.62 billion, a P/E ratio of 58.53, a PEG ratio of 4.96 and a beta of 1.27. The firm has a 50-day moving average of $73.64 and a 200 day moving average of $74.54. 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 released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The company had revenue of $306.10 million during the quarter, compared to the consensus estimate of $306.49 million. During the same period in the prior year, the firm earned $0.56 earnings per share. Bio-Techne’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, November 8th. Bio-Techne’s 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.