Captrust Financial Advisors Sells 5,206 Shares of Bio-Techne Co. (NASDAQ:TECH)

Captrust Financial Advisors reduced its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 9.3% in the third quarter, Holdings Channel reports. The fund owned 50,771 shares of the biotechnology company’s stock after selling 5,206 shares during the quarter. Captrust Financial Advisors’ holdings in Bio-Techne were worth $4,058,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mackenzie Financial Corp lifted its position in Bio-Techne by 8.2% in 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 lifted its position in Bio-Techne by 3.5% in 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. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Bio-Techne by 20.4% in 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. Geneva Capital Management LLC lifted its position in Bio-Techne by 1.6% in the third quarter. Geneva Capital Management LLC now owns 1,104,310 shares of the biotechnology company’s stock worth $88,267,000 after buying an additional 17,114 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Bio-Techne by 9.4% in 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 currently owned by institutional investors.

Bio-Techne Stock Performance

TECH stock opened at $75.05 on Wednesday. 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 business has a 50-day moving average price of $73.50 and a 200 day moving average price of $74.86. The company has a market capitalization of $11.92 billion, a P/E ratio of 79.84, a PEG ratio of 5.55 and a beta of 1.27. Bio-Techne Co. has a 1-year low of $61.16 and a 1-year high of $85.57.

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

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were issued a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s payout ratio is currently 34.04%.

Analyst Ratings Changes

TECH has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. 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 research 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. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird lifted 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.