Angeles Wealth Management LLC Invests $316,000 in Bio-Techne Co. (NASDAQ:TECH)

Angeles Wealth Management LLC acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,952 shares of the biotechnology company’s stock, valued at approximately $316,000.

A number of other hedge funds have also bought and sold shares of TECH. Itau Unibanco Holding S.A. acquired a new stake in Bio-Techne during the 2nd quarter worth about $25,000. Brown Brothers Harriman & Co. boosted its position in shares of 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. acquired a new stake in Bio-Techne during the second quarter worth approximately $31,000. DT Investment Partners LLC bought a new stake in Bio-Techne in the second quarter worth approximately $36,000. Finally, Versant Capital Management Inc lifted its stake in Bio-Techne by 1,427.8% in the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 514 shares during the period. Institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday. Benchmark restated 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. Scotiabank upped their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday. Finally, Royal Bank of Canada reduced their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne Trading Up 2.1 %

NASDAQ TECH opened at $75.31 on Monday. The company has a current ratio of 4.56, a quick ratio of 2.75 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $11.95 billion, a P/E ratio of 80.12, a PEG ratio of 5.33 and a beta of 1.28. The business has a fifty day simple moving average of $73.75 and a 200 day simple moving average of $74.67. Bio-Techne Co. has a 12 month low of $52.99 and a 12 month high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts predict that Bio-Techne Co. will post 1.7 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio is currently 34.04%.

About Bio-Techne

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.