Bio-Techne Co. (NASDAQ:TECH) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in Bio-Techne Co. (NASDAQ:TECH) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,342 shares of the biotechnology company’s stock after buying an additional 803 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of Bio-Techne worth $7,221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Bio-Techne in the 3rd quarter valued at $319,000. Caprock Group LLC boosted its position in shares of Bio-Techne by 1.7% in the third quarter. Caprock Group LLC now owns 12,622 shares of the biotechnology company’s stock worth $1,009,000 after acquiring an additional 217 shares during the last quarter. Pathstone Holdings LLC grew its holdings in Bio-Techne by 1.2% in the third quarter. Pathstone Holdings LLC now owns 31,604 shares of the biotechnology company’s stock valued at $2,526,000 after purchasing an additional 381 shares during the period. Quest Partners LLC acquired a new position in Bio-Techne during the third quarter worth approximately $43,000. Finally, Swiss National Bank raised its stake in Bio-Techne by 0.8% during the third quarter. Swiss National Bank now owns 467,700 shares of the biotechnology company’s stock worth $37,383,000 after purchasing an additional 3,600 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Up 0.3 %

NASDAQ TECH opened at $71.28 on Friday. The stock has a market cap of $11.33 billion, a P/E ratio of 75.83, a PEG ratio of 5.19 and a beta of 1.28. The company’s fifty day simple moving average is $73.77 and its 200-day simple moving average is $75.25. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57.

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

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne’s payout ratio is currently 34.04%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TECH shares. Scotiabank upped their price objective on 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 raised their price objective on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Royal Bank of Canada cut 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. Finally, StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus target price of $81.78.

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.