Pathstone Holdings LLC Boosts Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Pathstone Holdings LLC boosted its stake in Bio-Techne Co. (NASDAQ:TECH) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 31,604 shares of the biotechnology company’s stock after acquiring an additional 381 shares during the quarter. Pathstone Holdings LLC’s holdings in Bio-Techne were worth $2,526,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quest Partners LLC bought a new stake in Bio-Techne during the third quarter valued at $43,000. Swiss National Bank increased its holdings in shares of Bio-Techne by 0.8% in the 3rd quarter. Swiss National Bank now owns 467,700 shares of the biotechnology company’s stock worth $37,383,000 after buying an additional 3,600 shares during the last quarter. Broadcrest Asset Management LLC lifted its holdings in shares of Bio-Techne by 100.0% during the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock worth $15,986,000 after acquiring an additional 100,000 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Bio-Techne by 27.0% in the third quarter. Mutual of America Capital Management LLC now owns 41,673 shares of the biotechnology company’s stock worth $3,331,000 after acquiring an additional 8,852 shares in the last quarter. Finally, Sawgrass Asset Management LLC purchased a new stake in Bio-Techne during the third quarter valued at about $208,000. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $74.39 on Tuesday. The business has a fifty day moving average price of $73.77 and a 200-day moving average price of $75.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The company has a market capitalization of $11.82 billion, a PE ratio of 79.14, a PEG ratio of 5.20 and a beta of 1.28. Bio-Techne Co. has a 1-year low of $61.16 and a 1-year high of $85.57.

Bio-Techne (NASDAQ:TECH) last released 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. The business had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. Bio-Techne’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS. As a group, equities analysts expect that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were issued a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Bio-Techne’s payout ratio is currently 34.04%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TECH shares. Benchmark reissued a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th. Scotiabank increased 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 lifted their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada dropped their price target on 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.