486 Shares in Bio-Techne Co. (NASDAQ:TECH) Bought by Brooklyn Investment Group

Brooklyn Investment Group acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 486 shares of the biotechnology company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TECH. Itau Unibanco Holding S.A. acquired a new stake in shares of Bio-Techne during the second quarter worth $25,000. Brown Brothers Harriman & Co. raised its holdings in shares of Bio-Techne by 922.5% during the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 369 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Bio-Techne during the second quarter worth $31,000. DT Investment Partners LLC acquired a new stake in shares of Bio-Techne during the second quarter worth $36,000. Finally, Versant Capital Management Inc raised its holdings in shares of Bio-Techne by 1,427.8% during the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 514 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Royal Bank of Canada decreased their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Scotiabank raised their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Benchmark reaffirmed a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.78.

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $75.36 on Friday. Bio-Techne Co. has a twelve month low of $61.16 and a twelve month 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 company has a 50-day simple moving average of $73.63 and a two-hundred day simple moving average of $75.14. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 80.17, a price-to-earnings-growth ratio of 5.50 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping 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 analysts’ expectations of $280.22 million. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Analysts forecast that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Announces Dividend

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

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.