22,210 Shares in Bio-Techne Co. (NASDAQ:TECH) Acquired by Virtu Financial LLC

Virtu Financial LLC acquired a new stake in Bio-Techne Co. (NASDAQ:TECH) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 22,210 shares of the biotechnology company’s stock, valued at approximately $1,591,000.

Several other large investors have also recently added to or reduced their stakes in TECH. Dimensional Fund Advisors LP increased its stake in shares of Bio-Techne by 19.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company’s stock worth $56,646,000 after acquiring an additional 118,534 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Bio-Techne by 33.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,705 shares of the biotechnology company’s stock valued at $903,000 after buying an additional 2,958 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Bio-Techne by 40.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,120 shares of the biotechnology company’s stock valued at $86,000 after buying an additional 323 shares during the last quarter. Norges Bank bought a new stake in shares of Bio-Techne in the 4th quarter valued at approximately $119,771,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Bio-Techne by 126.5% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,465 shares of the biotechnology company’s stock worth $345,000 after buying an additional 2,494 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of NASDAQ TECH opened at $75.28 on Wednesday. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 59.75, a PEG ratio of 4.95 and a beta of 1.27. Bio-Techne Co. has a one year low of $51.79 and a one year high of $85.57. The business has a fifty day simple moving average of $74.98 and a 200 day simple moving average of $73.89. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The company had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 EPS. Sell-side analysts expect that Bio-Techne Co. will post 1.71 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s payout ratio is 25.40%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Citigroup lowered shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a research note on Wednesday, May 22nd. Royal Bank of Canada lowered their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, Robert W. Baird raised their target price on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.60.

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.