Synovus Financial Corp Purchases 198 Shares of Bio-Techne Co. (NASDAQ:TECH)

Synovus Financial Corp grew its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,223 shares of the biotechnology company’s stock after acquiring an additional 198 shares during the period. Synovus Financial Corp’s holdings in Bio-Techne were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

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

Bio-Techne Stock Up 0.6 %

TECH stock opened at $76.16 on Tuesday. The firm has a 50 day moving average of $73.39 and a 200 day moving average of $74.57. The stock has a market capitalization of $12.10 billion, a PE ratio of 81.02, a price-to-earnings-growth ratio of 5.52 and a beta of 1.27. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. 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 announced 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 firm had revenue of $289.46 million during the quarter, compared to analysts’ expectations of $280.22 million. During the same period last year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders 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 annualized dividend and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

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.