Brooklyn Investment Group Takes Position in Bio-Techne Co. (NASDAQ:TECH)

Brooklyn Investment Group bought a new stake in Bio-Techne Co. (NASDAQ:TECH) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 486 shares of the biotechnology company’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp raised its position in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock valued at $185,559,000 after purchasing an additional 88,257 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Bio-Techne by 20.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock valued at $122,879,000 after purchasing an additional 290,510 shares during the last quarter. Geneva Capital Management LLC grew its holdings in shares of Bio-Techne by 1.6% during the 3rd quarter. Geneva Capital Management LLC now owns 1,104,310 shares of the biotechnology company’s stock valued at $88,267,000 after purchasing an additional 17,114 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bio-Techne by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after purchasing an additional 76,641 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Trading Down 0.0 %

TECH opened at $75.36 on Friday. The company’s 50 day moving average price is $73.63 and its two-hundred day moving average price is $75.14. 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 fifty-two week low of $61.16 and a fifty-two week high of $85.57. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 80.17, a PEG ratio of 5.50 and a beta of 1.28.

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

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne’s dividend payout ratio is currently 34.04%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TECH shares. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Robert W. Baird lifted their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada decreased their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Scotiabank boosted their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.