Huntington National Bank Has $60,000 Holdings in Bio-Techne Co. (NASDAQ:TECH)

Huntington National Bank boosted its stake in Bio-Techne Co. (NASDAQ:TECH) by 38.5% in the third quarter, HoldingsChannel reports. The firm owned 756 shares of the biotechnology company’s stock after acquiring an additional 210 shares during the period. Huntington National Bank’s holdings in Bio-Techne were worth $60,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV grew its position in shares of Bio-Techne by 41.7% during the 3rd quarter. KBC Group NV now owns 19,043 shares of the biotechnology company’s stock worth $1,522,000 after buying an additional 5,601 shares during the period. Geneva Capital Management LLC boosted its stake in 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 worth $88,267,000 after acquiring an additional 17,114 shares during the last quarter. WCM Investment Management LLC grew its holdings in Bio-Techne by 32.8% during the third quarter. WCM Investment Management LLC now owns 22,891 shares of the biotechnology company’s stock valued at $1,802,000 after purchasing an additional 5,659 shares during the period. Venturi Wealth Management LLC increased its stake in Bio-Techne by 58.1% in the third quarter. Venturi Wealth Management LLC now owns 947 shares of the biotechnology company’s stock valued at $76,000 after purchasing an additional 348 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Bio-Techne in the third quarter worth $125,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on TECH shares. Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank raised 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. Robert W. Baird upped 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. Finally, Royal Bank of Canada dropped 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 report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.78.

Bio-Techne Stock Performance

Shares of NASDAQ TECH opened at $66.86 on Tuesday. The stock has a market capitalization of $10.62 billion, a PE ratio of 71.13, a price-to-earnings-growth ratio of 4.93 and a beta of 1.28. Bio-Techne Co. has a 52 week low of $61.11 and a 52 week high of $85.57. The stock has a 50 day moving average price of $74.23 and a 200 day moving average price of $75.49. 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 (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. Analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.48%. Bio-Techne’s dividend payout ratio is presently 34.04%.

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.