Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC grew its holdings in Bio-Techne Co. (NASDAQ:TECH) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 314,097 shares of the biotechnology company’s stock after purchasing an additional 3,060 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Bio-Techne were worth $25,106,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Bio-Techne by 92.1% during 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Bio-Techne by 20.4% in the 2nd 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 last quarter. Mackenzie Financial Corp grew its holdings in shares of Bio-Techne by 8.2% during the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after purchasing an additional 216,044 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Bio-Techne by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after purchasing an additional 88,257 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bio-Techne by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after purchasing an additional 76,641 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

TECH stock traded up $1.98 during trading on Friday, reaching $75.73. 281,243 shares of the company were exchanged, compared to its average volume of 1,016,625. Bio-Techne Co. has a 52-week low of $52.99 and a 52-week high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.75 and a current ratio of 4.56. The company has a market cap of $12.01 billion, a P/E ratio of 80.32, a PEG ratio of 5.49 and a beta of 1.27. The stock’s 50 day moving average price is $73.69 and its 200 day moving average price is $74.53.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. As a group, analysts predict that Bio-Techne Co. will post 1.7 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio is presently 34.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TECH shares. Scotiabank raised their price target on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday. Benchmark reaffirmed a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Robert W. Baird upped their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Royal Bank of Canada dropped their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.60.

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.