SRS Capital Advisors Inc. Grows Holdings in Bio-Techne Co. (NASDAQ:TECH)

SRS Capital Advisors Inc. lifted its holdings in Bio-Techne Co. (NASDAQ:TECH) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,818 shares of the biotechnology company’s stock after buying an additional 2,374 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Bio-Techne were worth $1,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Industrial Alliance Investment Management Inc. purchased a new stake in Bio-Techne during the 2nd quarter valued at about $31,000. Mather Group LLC. purchased a new stake in Bio-Techne during the 1st quarter valued at about $38,000. DT Investment Partners LLC purchased a new stake in Bio-Techne during the 2nd quarter valued at about $36,000. Versant Capital Management Inc grew its position in Bio-Techne by 1,427.8% during the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 514 shares during the last quarter. Finally, YHB Investment Advisors Inc. purchased a new stake in Bio-Techne during the 1st quarter valued at about $43,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on TECH shares. Robert W. Baird increased their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, May 22nd. Royal Bank of Canada dropped their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.60.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH traded down $0.88 during trading on Friday, hitting $71.49. The company’s stock had a trading volume of 734,814 shares, compared to its average volume of 789,535. The company has a 50-day moving average of $74.72 and a 200-day moving average of $73.81. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $85.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 56.74, a P/E/G ratio of 4.96 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. During the same quarter in the prior year, the business earned $0.56 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts expect that Bio-Techne Co. will post 1.66 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s payout ratio is 25.40%.

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.