Teachers Retirement System of The State of Kentucky Reduces Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,731 shares of the biotechnology company’s stock after selling 736 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Bio-Techne were worth $937,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in Bio-Techne during the second quarter valued at $25,000. Brown Brothers Harriman & Co. boosted its stake in shares of Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in Bio-Techne during the 2nd quarter valued at about $31,000. Brooklyn Investment Group purchased a new stake in Bio-Techne in the 3rd quarter worth about $39,000. Finally, Quest Partners LLC bought a new stake in Bio-Techne in the third quarter worth about $43,000. 98.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Bio-Techne Price Performance

TECH opened at $71.41 on Thursday. 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 business’s fifty day simple moving average is $73.43 and its 200-day simple moving average is $74.56. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 75.97, a PEG ratio of 5.52 and a beta of 1.27. Bio-Techne Co. has a 12-month low of $61.16 and a 12-month high of $85.57.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 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 business had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, 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 announced 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. The ex-dividend date was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Bio-Techne’s dividend payout ratio is currently 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.