Legal Advantage Investments Inc. Sells 800 Shares of Bio-Techne Co. (NASDAQ:TECH)

Legal Advantage Investments Inc. reduced its stake in Bio-Techne Co. (NASDAQ:TECH) by 6.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,435 shares of the biotechnology company’s stock after selling 800 shares during the period. Legal Advantage Investments Inc.’s holdings in Bio-Techne were worth $896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TECH. Point72 Asset Management L.P. purchased a new stake in shares of Bio-Techne during the third quarter valued at approximately $89,724,000. Point72 DIFC Ltd purchased a new stake in shares of Bio-Techne during the third quarter valued at approximately $20,071,000. Mackenzie Financial Corp grew its holdings 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 valued at $205,081,000 after buying an additional 216,044 shares during the last quarter. Broadcrest Asset Management LLC grew its holdings in shares of Bio-Techne by 100.0% during the third quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock valued at $15,986,000 after buying an additional 100,000 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Bio-Techne by 1.5% during the third quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock valued at $511,232,000 after buying an additional 95,133 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Down 0.4 %

Shares of Bio-Techne stock opened at $75.83 on Tuesday. The company’s fifty day simple moving average is $73.80 and its 200-day simple moving average is $74.37. The stock has a market capitalization of $12.05 billion, a PE ratio of 80.67, a P/E/G ratio of 5.59 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. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The firm had revenue of $289.46 million for 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 revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. As a group, equities analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Bio-Techne’s dividend payout ratio is currently 34.04%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TECH. 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 report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Scotiabank raised their target price 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 six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

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.