Bio-Techne Co. (NASDAQ:TECH) is Montanaro Asset Management Ltd’s 3rd Largest Position

Montanaro Asset Management Ltd boosted its holdings in Bio-Techne Co. (NASDAQ:TECH) by 6.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 323,000 shares of the biotechnology company’s stock after buying an additional 18,200 shares during the period. Bio-Techne makes up about 4.6% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 3rd largest position. Montanaro Asset Management Ltd owned 0.20% of Bio-Techne worth $25,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. UniSuper Management Pty Ltd raised its stake in shares of Bio-Techne by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock valued at $967,000 after acquiring an additional 11,667 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Bio-Techne by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock worth $14,125,000 after buying an additional 33,709 shares during the period. Tidal Investments LLC grew its stake in shares of Bio-Techne by 135.5% in the first quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock valued at $2,252,000 after buying an additional 18,404 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Bio-Techne during the 1st quarter valued at about $569,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Bio-Techne by 20.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after acquiring an additional 290,510 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Down 0.5 %

Shares of Bio-Techne stock opened at $75.96 on Friday. The business has a 50-day moving average price of $74.14 and a 200 day moving average price of $75.15. Bio-Techne Co. has a fifty-two week low of $55.63 and a fifty-two week high of $85.57. The firm has a market cap of $12.07 billion, a P/E ratio of 80.81, a P/E/G ratio of 5.54 and a beta of 1.28. 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 (NASDAQ:TECH) last issued its quarterly earnings results 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 return on equity of 12.76% and a net margin of 12.86%. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. During the same period in the previous year, the business earned $0.35 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio (DPR) is 34.04%.

Wall Street Analyst Weigh In

Several analysts have issued reports on TECH shares. Robert W. Baird increased their price objective 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. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Scotiabank raised their target price on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada cut their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.