Janney Montgomery Scott LLC Acquires 1,235 Shares of Bio-Techne Co. (NASDAQ:TECH)

Janney Montgomery Scott LLC lifted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 12.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,349 shares of the biotechnology company’s stock after purchasing an additional 1,235 shares during the period. Janney Montgomery Scott LLC’s holdings in Bio-Techne were worth $907,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bleakley Financial Group LLC raised its position in Bio-Techne by 10.7% in the 1st quarter. Bleakley Financial Group LLC now owns 3,104 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 301 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Bio-Techne by 13.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,707 shares of the biotechnology company’s stock valued at $613,000 after acquiring an additional 1,005 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Bio-Techne in the first quarter worth about $4,051,000. Seven Eight Capital LP bought a new stake in Bio-Techne during the 1st quarter worth about $569,000. Finally, UniSuper Management Pty Ltd lifted its position in Bio-Techne by 563.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock valued at $967,000 after purchasing an additional 11,667 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Scotiabank raised their price target on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Robert W. Baird boosted their target price on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne Stock Performance

TECH opened at $67.57 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 71.88, a P/E/G ratio of 5.54 and a beta of 1.28. The business’s 50-day moving average price is $74.23 and its two-hundred day moving average price is $75.48. Bio-Techne Co. has a 1 year low of $60.53 and a 1 year high of $85.57.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. During the same quarter in the prior year, the firm posted $0.35 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Equities analysts expect that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. Bio-Techne’s dividend payout ratio is 34.04%.

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.