World Investment Advisors LLC Grows Holdings in Bio-Techne Co. (NASDAQ:TECH)

World Investment Advisors LLC increased its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,957 shares of the biotechnology company’s stock after buying an additional 1,000 shares during the quarter. World Investment Advisors LLC’s holdings in Bio-Techne were worth $1,755,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Bio-Techne in the 3rd quarter valued at approximately $89,724,000. Point72 DIFC Ltd acquired a new stake in shares of Bio-Techne during the third quarter worth $20,071,000. Mackenzie Financial Corp grew its position in Bio-Techne by 8.2% in the 2nd 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 increased its stake in Bio-Techne by 100.0% in the 3rd 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 period. Finally, State Street Corp raised its position in Bio-Techne by 1.5% during the 3rd quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock worth $511,232,000 after buying an additional 95,133 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Scotiabank increased their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note 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, Robert W. Baird boosted their price objective 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Bio-Techne Price Performance

TECH stock opened at $75.69 on Friday. The stock has a market capitalization of $12.03 billion, a price-to-earnings ratio of 80.52, a price-to-earnings-growth ratio of 5.52 and a beta of 1.27. The stock’s fifty day simple moving average is $73.34 and its 200-day simple moving average is $74.61. Bio-Techne Co. has a 52-week low of $61.16 and a 52-week high of $85.57. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share 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 business had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. During the same period in the prior year, the firm posted $0.35 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Equities research analysts expect that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Dividend Announcement

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