Bio-Techne Co. (NASDAQ:TECH) Position Raised by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 3.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,333 shares of the biotechnology company’s stock after acquiring an additional 200 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Bio-Techne were worth $426,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of TECH. First City Capital Management Inc. increased its stake in shares of Bio-Techne by 6.2% in the first quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock valued at $224,000 after purchasing an additional 185 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Bio-Techne by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 205 shares during the period. Mather Group LLC. raised its stake in Bio-Techne by 51.5% during the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 208 shares in the last quarter. Huntington National Bank boosted its position in Bio-Techne by 38.5% during the 3rd quarter. Huntington National Bank now owns 756 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 210 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in shares of Bio-Techne by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 3,773 shares of the biotechnology company’s stock worth $302,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

TECH has been the subject of several research analyst reports. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada reduced their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Scotiabank boosted 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. Robert W. Baird increased their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Benchmark reiterated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne Trading Down 6.9 %

Shares of TECH opened at $67.57 on Friday. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 1-year low of $60.53 and a 1-year high of $85.57. The stock has a market capitalization of $10.74 billion, a P/E ratio of 71.88, a P/E/G ratio of 5.54 and a beta of 1.28. The business’s 50-day moving average price is $74.23 and its 200 day moving average price is $75.48.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. Bio-Techne’s dividend payout ratio is 34.04%.

Bio-Techne 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.