Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,063 shares of the biotechnology company’s stock after selling 2,764 shares during the period. Public Employees Retirement System of Ohio’s holdings in Bio-Techne were worth $4,561,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Envestnet Portfolio Solutions Inc. boosted its holdings in Bio-Techne by 2.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 32,780 shares of the biotechnology company’s stock valued at $2,349,000 after purchasing an additional 692 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Bio-Techne by 29.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 41,214 shares of the biotechnology company’s stock valued at $2,953,000 after buying an additional 9,315 shares during the period. Blue Trust Inc. boosted its stake in shares of Bio-Techne by 2,544.5% in the second quarter. Blue Trust Inc. now owns 2,909 shares of the biotechnology company’s stock worth $205,000 after buying an additional 2,799 shares during the last quarter. Raymond James & Associates grew its holdings in Bio-Techne by 4.2% during the second quarter. Raymond James & Associates now owns 348,140 shares of the biotechnology company’s stock worth $24,944,000 after acquiring an additional 13,953 shares during the period. Finally, Aull & Monroe Investment Management Corp purchased a new position in Bio-Techne during the second quarter valued at approximately $201,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Down 1.3 %

Shares of NASDAQ TECH opened at $75.69 on Friday. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 80.52, a price-to-earnings-growth ratio of 5.52 and a beta of 1.27. The company’s 50-day simple moving average is $73.34 and its 200-day simple moving average is $74.61. The company has a quick ratio of 3.26, a current ratio of 4.56 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 (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company had revenue of $289.46 million for the quarter, compared to analysts’ expectations of $280.22 million. During the same period in the previous year, the firm posted $0.35 EPS. Bio-Techne’s revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne’s payout ratio is 34.04%.

Analyst Upgrades and Downgrades

TECH has been the topic of a number of analyst reports. Scotiabank raised their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Robert W. Baird raised their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

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.