Point72 Asia Singapore Pte. Ltd. Invests $313,000 in Bio-Techne Co. (NASDAQ:TECH)

Point72 Asia Singapore Pte. Ltd. purchased a new position in Bio-Techne Co. (NASDAQ:TECH) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,910 shares of the biotechnology company’s stock, valued at approximately $313,000.

A number of other institutional investors also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new position in Bio-Techne during the second quarter valued at $25,000. Brown Brothers Harriman & Co. lifted its position in Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 369 shares during the period. Industrial Alliance Investment Management Inc. bought a new stake in shares of Bio-Techne in the 2nd quarter worth approximately $31,000. DT Investment Partners LLC purchased a new position in Bio-Techne during the second quarter valued at $36,000. Finally, Brooklyn Investment Group purchased a new position in Bio-Techne during the third quarter valued at $39,000. 98.95% of the stock is owned by institutional investors.

Bio-Techne Stock Performance

Shares of NASDAQ TECH opened at $75.05 on Wednesday. Bio-Techne Co. has a 12-month low of $61.16 and a 12-month high of $85.57. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 79.84, a price-to-earnings-growth ratio of 5.55 and a beta of 1.27. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $73.50 and a 200 day moving average of $74.86.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) 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 firm had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on TECH shares. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank lifted their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Royal Bank of Canada decreased their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Finally, Robert W. Baird upped 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and a consensus price target 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.