Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Ownership Capital B.V.

Ownership Capital B.V. reduced its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 17.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 974,648 shares of the biotechnology company’s stock after selling 208,493 shares during the quarter. Bio-Techne makes up 2.5% of Ownership Capital B.V.’s investment portfolio, making the stock its 18th largest position. Ownership Capital B.V.’s holdings in Bio-Techne were worth $77,904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd boosted its stake in shares of Bio-Techne by 563.1% during the first quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock valued at $967,000 after acquiring an additional 11,667 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Bio-Techne by 20.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock worth $14,125,000 after purchasing an additional 33,709 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Bio-Techne by 135.5% during the first quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock worth $2,252,000 after buying an additional 18,404 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Bio-Techne in the first quarter valued at approximately $569,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted 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 valued at $122,879,000 after buying an additional 290,510 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

TECH stock opened at $75.96 on Friday. The stock has a 50-day moving average price of $74.14 and a two-hundred day moving average price of $75.15. The company has a market cap of $12.07 billion, a PE ratio of 80.81, a price-to-earnings-growth ratio of 5.54 and a beta of 1.28. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 12-month low of $55.63 and a 12-month high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (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 in the previous year, the business earned $0.35 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts predict that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 dividend yield of 0.42%. The ex-dividend date is Friday, November 8th. Bio-Techne’s dividend payout ratio is presently 34.04%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TECH shares. Robert W. Baird raised their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Scotiabank raised their price objective on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. 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. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada lowered their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.78.

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.