Victory Capital Management Inc. Sells 3,022 Shares of Bio-Techne Co. (NASDAQ:TECH)

Victory Capital Management Inc. trimmed its position in Bio-Techne Co. (NASDAQ:TECH) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,594 shares of the biotechnology company’s stock after selling 3,022 shares during the quarter. Victory Capital Management Inc.’s holdings in Bio-Techne were worth $3,405,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Bio-Techne by 92.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after buying an additional 2,755,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Bio-Techne by 20.4% during the second 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. Mackenzie Financial Corp grew its stake in shares of Bio-Techne by 8.2% during the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after buying an additional 216,044 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Bio-Techne by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after buying an additional 88,257 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Bio-Techne by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock worth $64,082,000 after buying an additional 76,641 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada cut their price target 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. Finally, Scotiabank lifted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.78.

Bio-Techne Trading Up 0.3 %

Shares of TECH stock opened at $71.28 on Friday. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. The stock has a 50 day simple moving average of $73.77 and a two-hundred day simple moving average of $75.25. The company has a market cap of $11.33 billion, a P/E ratio of 75.83, a PEG ratio of 5.19 and a beta of 1.28.

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

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) 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.