Suvretta Capital Management LLC Purchases Shares of 2,600 Bio-Techne Co. (NASDAQ:TECH)

Suvretta Capital Management LLC acquired a new position in Bio-Techne Co. (NASDAQ:TECH) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,600 shares of the biotechnology company’s stock, valued at approximately $208,000.

Several other institutional investors have also recently made changes to their positions in TECH. Itau Unibanco Holding S.A. bought a new stake in Bio-Techne during the 2nd quarter worth approximately $25,000. Brown Brothers Harriman & Co. increased its stake in shares of Bio-Techne by 922.5% in the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Bio-Techne during the 2nd quarter valued at $31,000. DT Investment Partners LLC purchased a new position in shares of Bio-Techne during the 2nd quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its holdings in Bio-Techne by 1,427.8% in the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after buying an additional 514 shares during the period. Institutional investors own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TECH shares. Scotiabank raised their price target on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th. Robert W. Baird lifted their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada dropped their target price 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.78.

Bio-Techne Trading Up 0.7 %

Shares of TECH opened at $75.38 on Friday. The stock has a market capitalization of $11.98 billion, a PE ratio of 80.19, a P/E/G ratio of 5.50 and a beta of 1.28. The company’s fifty day moving average is $73.73 and its 200 day moving average is $75.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to analysts’ expectations of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. 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. Shareholders of record on Monday, November 11th were given a dividend of $0.08 per share. 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 (DPR) is presently 34.04%.

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.