Blair William & Co. IL Reduces Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Blair William & Co. IL cut its stake in Bio-Techne Co. (NASDAQ:TECHFree Report) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,833 shares of the biotechnology company’s stock after selling 762 shares during the period. Blair William & Co. IL’s holdings in Bio-Techne were worth $8,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Bio-Techne by 15.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,656 shares of the biotechnology company’s stock valued at $2,155,000 after purchasing an additional 4,198 shares during the period. Campbell & CO Investment Adviser LLC boosted its holdings in Bio-Techne by 142.7% in the third quarter. Campbell & CO Investment Adviser LLC now owns 11,516 shares of the biotechnology company’s stock valued at $784,000 after purchasing an additional 6,772 shares during the period. HighTower Advisors LLC lifted its holdings in Bio-Techne by 5.4% during the 3rd quarter. HighTower Advisors LLC now owns 18,866 shares of the biotechnology company’s stock worth $1,290,000 after buying an additional 965 shares during the last quarter. Pathstone Family Office LLC lifted its holdings in Bio-Techne by 53.0% during the 3rd quarter. Pathstone Family Office LLC now owns 10,936 shares of the biotechnology company’s stock worth $744,000 after buying an additional 3,788 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Bio-Techne by 4.5% during the 3rd quarter. Van ECK Associates Corp now owns 165,565 shares of the biotechnology company’s stock worth $11,270,000 after buying an additional 7,096 shares during the last quarter. 94.64% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Stock Performance

Shares of TECH stock opened at $69.95 on Tuesday. The stock has a market capitalization of $11.00 billion, a PE ratio of 50.69, a price-to-earnings-growth ratio of 6.90 and a beta of 1.24. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The stock’s 50-day moving average price is $72.12 and its 200 day moving average price is $70.68. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 12th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Friday, February 9th. Bio-Techne’s dividend payout ratio (DPR) is presently 23.19%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stephens decreased their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. StockNews.com downgraded Bio-Techne from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Friday, February 2nd. Citigroup reduced their target price on Bio-Techne from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Finally, Scotiabank began coverage on Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus target price of $84.11.

Check Out Our Latest Stock Report on Bio-Techne

Bio-Techne Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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