Point72 Asia Singapore Pte. Ltd. Acquires Shares of 3,910 Bio-Techne Co. (NASDAQ:TECH)

Point72 Asia Singapore Pte. Ltd. bought a new position in Bio-Techne Co. (NASDAQ:TECH) during the 3rd quarter, Holdings Channel.com reports. The fund bought 3,910 shares of the biotechnology company’s stock, valued at approximately $313,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in 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 worth $122,879,000 after purchasing an additional 290,510 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Bio-Techne by 60.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,122 shares of the biotechnology company’s stock worth $2,158,000 after acquiring an additional 11,371 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Bio-Techne by 9.8% during the 2nd quarter. APG Asset Management N.V. now owns 81,138 shares of the biotechnology company’s stock worth $5,424,000 after acquiring an additional 7,275 shares in the last quarter. Comerica Bank boosted its position in shares of Bio-Techne by 14.8% during the 1st quarter. Comerica Bank now owns 53,246 shares of the biotechnology company’s stock valued at $3,748,000 after acquiring an additional 6,845 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Bio-Techne by 4.2% in the second quarter. Raymond James & Associates now owns 348,140 shares of the biotechnology company’s stock valued at $24,944,000 after purchasing an additional 13,953 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 1.3 %

Bio-Techne stock opened at $75.05 on Wednesday. Bio-Techne Co. has a twelve month low of $61.16 and a twelve month high of $85.57. The business has a fifty day moving average of $73.50 and a two-hundred day moving average of $74.86. The firm has a market cap of $11.92 billion, a P/E ratio of 79.84, a P/E/G ratio of 5.55 and a beta of 1.27. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. During the same quarter in the previous year, the firm earned $0.35 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Bio-Techne’s payout ratio is 34.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TECH. Robert W. Baird increased their price target 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. Royal Bank of Canada reduced their target price 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. Benchmark reissued a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Scotiabank lifted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.