Oddo BHF Asset Management Sas Invests $1.19 Million in Bio-Techne Co. (NASDAQ:TECH)

Oddo BHF Asset Management Sas acquired a new stake in shares of Bio-Techne Co. (NASDAQ:TECH) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,865 shares of the biotechnology company’s stock, valued at approximately $1,188,000.

Several other large investors also recently added to or reduced their stakes in TECH. Itau Unibanco Holding S.A. bought a new stake in shares of Bio-Techne during the second quarter valued at approximately $25,000. Brown Brothers Harriman & Co. raised its position in Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Bio-Techne in the 2nd quarter worth $31,000. DT Investment Partners LLC bought a new position in shares of Bio-Techne during the 2nd quarter worth $36,000. Finally, Brooklyn Investment Group purchased a new position in shares of Bio-Techne during the third quarter valued at $39,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Down 1.3 %

Shares of TECH stock opened at $75.69 on Friday. The stock’s fifty day moving average price is $73.34 and its 200 day moving average price is $74.64. 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 Co. has a 1-year low of $61.16 and a 1-year high of $85.57. The company has a market cap of $12.03 billion, a price-to-earnings ratio of 80.52, a price-to-earnings-growth ratio of 5.61 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (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 for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, research analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

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 was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio is currently 34.04%.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of research reports. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird upped their price target 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. Finally, Scotiabank boosted their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and an average price target 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.