Signaturefd LLC Acquires 225 Shares of Bio-Techne Co. (NASDAQ:TECH)

Signaturefd LLC boosted its holdings in Bio-Techne Co. (NASDAQ:TECH) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,895 shares of the biotechnology company’s stock after purchasing an additional 225 shares during the period. Signaturefd LLC’s holdings in Bio-Techne were worth $231,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC bought a new stake in Bio-Techne in the third quarter worth $218,000. Berry Wealth Group LP lifted its stake in Bio-Techne by 15.4% in the third quarter. Berry Wealth Group LP now owns 4,003 shares of the biotechnology company’s stock worth $320,000 after purchasing an additional 535 shares during the last quarter. Raymond James & Associates lifted its stake in Bio-Techne by 2.4% in the third quarter. Raymond James & Associates now owns 356,597 shares of the biotechnology company’s stock worth $28,503,000 after purchasing an additional 8,457 shares during the last quarter. Trust Point Inc. lifted its stake in Bio-Techne by 3.9% in the third quarter. Trust Point Inc. now owns 8,705 shares of the biotechnology company’s stock worth $696,000 after purchasing an additional 326 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Bio-Techne by 1.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,347 shares of the biotechnology company’s stock valued at $1,307,000 after acquiring an additional 289 shares during the period. 98.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on TECH. Robert W. Baird boosted their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada decreased 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 report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $68.68 on Friday. Bio-Techne Co. has a 1 year low of $51.79 and a 1 year high of $85.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. The company’s 50-day moving average is $73.70 and its 200 day moving average is $74.45. The stock has a market capitalization of $10.82 billion, a P/E ratio of 54.51, a P/E/G ratio of 5.05 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Bio-Techne Co. will post 1.7 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, August 19th. Bio-Techne’s dividend payout ratio is 25.40%.

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.