Asset Management One Co. Ltd. lowered its stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 121,637 shares of the biotechnology company's stock after selling 10,313 shares during the quarter. Asset Management One Co. Ltd. owned about 0.08% of Bio-Techne worth $9,689,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Bio-Techne by 92.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company's stock valued at $404,470,000 after purchasing an additional 2,755,065 shares during the period. Mackenzie Financial Corp raised its stake in 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 buying an additional 216,044 shares during the period. Massachusetts Financial Services Co. MA raised its stake in 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 buying an additional 88,257 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in 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 buying an additional 290,510 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Bio-Techne by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 995,824 shares of the biotechnology company's stock worth $70,095,000 after buying an additional 12,991 shares during the period. Institutional investors and hedge funds own 98.95% of the company's stock.
Bio-Techne stock opened at $76.42 on Friday. Bio-Techne Co. has a 52 week low of $55.63 and a 52 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 market capitalization of $12.12 billion, a P/E ratio of 81.30, a PEG ratio of 5.47 and a beta of 1.28. The stock has a 50-day simple moving average of $74.10 and a 200 day simple moving average of $74.98.
Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS 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 business had revenue of $289.46 million during the quarter, compared to analysts' expectations of $280.22 million. During the same quarter last year, the company posted $0.35 earnings per share. Bio-Techne's quarterly revenue was up 4.5% on a year-over-year basis. Analysts expect that Bio-Techne Co. will post 1.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.42%. Bio-Techne's dividend payout ratio (DPR) is presently 34.04%.
Several analysts recently commented on TECH shares. Royal Bank of Canada dropped their price objective 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. Benchmark reiterated a "buy" rating and set a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Scotiabank increased their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a "sector outperform" rating in a report on Thursday, October 31st. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Finally, Robert W. Baird raised their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $81.78.
Check Out Our Latest Research Report on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Bio-Techne, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bio-Techne wasn't on the list.
While Bio-Techne currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.