Bio-Techne Co. (NASDAQ:TECH) Shares Bought by Empirical Finance LLC

Empirical Finance LLC grew its holdings in Bio-Techne Co. (NASDAQ:TECH) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,080 shares of the biotechnology company’s stock after acquiring an additional 160 shares during the period. Empirical Finance LLC’s holdings in Bio-Techne were worth $326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Bio-Techne by 92.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after buying an additional 2,755,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Bio-Techne by 20.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock valued at $122,879,000 after buying an additional 290,510 shares during the period. Mackenzie Financial Corp raised its position in shares of Bio-Techne by 8.2% in the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after acquiring an additional 216,044 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after acquiring an additional 88,257 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Bio-Techne by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after acquiring an additional 76,641 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Price Performance

TECH stock opened at $67.57 on Monday. The business has a 50 day moving average price of $74.23 and a 200 day moving average price of $75.49. Bio-Techne Co. has a fifty-two week low of $60.53 and a fifty-two 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. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 71.88, a PEG ratio of 4.93 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. Equities research analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TECH shares. Royal Bank of Canada lowered their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. 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 report on Thursday, October 31st. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Scotiabank boosted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.78.

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.