Bio-Techne Co. (NASDAQ:TECH) Stock Holdings Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,580,802 shares of the biotechnology company’s stock after selling 8,997 shares during the period. Massachusetts Financial Services Co. MA owned 1.62% of Bio-Techne worth $206,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC raised its position in shares of Bio-Techne by 135.5% during the 1st quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock worth $2,252,000 after purchasing an additional 18,404 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake 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 valued at $122,879,000 after buying an additional 290,510 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Bio-Techne by 92.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock valued at $404,470,000 after acquiring an additional 2,755,065 shares during the period. Bayesian Capital Management LP bought a new position in shares of Bio-Techne during the first quarter worth about $964,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Bio-Techne by 60.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,122 shares of the biotechnology company’s stock worth $2,158,000 after acquiring an additional 11,371 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Trading Up 0.3 %

Shares of TECH stock opened at $71.28 on Friday. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $73.84 and a 200 day simple moving average of $75.28. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. The stock has a market capitalization of $11.33 billion, a P/E ratio of 75.83, a P/E/G ratio of 5.19 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $280.22 million. During the same quarter in the previous year, the company posted $0.35 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a dividend of $0.08 per share. The ex-dividend date was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TECH shares. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Scotiabank increased 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 reaffirmed a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Robert W. Baird increased their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada cut their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.78.

Bio-Techne Company 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.