Quantinno Capital Management LP Raises Position in Bio-Techne Co. (NASDAQ:TECH)

Quantinno Capital Management LP boosted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,484 shares of the biotechnology company’s stock after buying an additional 396 shares during the period. Quantinno Capital Management LP’s holdings in Bio-Techne were worth $5,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TECH. Point72 Asset Management L.P. bought a new stake in shares of Bio-Techne during the 3rd quarter valued at about $89,724,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings 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 worth $122,879,000 after buying an additional 290,510 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Bio-Techne during the 3rd quarter valued at $20,071,000. Mackenzie Financial Corp raised its position in shares of Bio-Techne by 8.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock valued at $205,081,000 after buying an additional 216,044 shares in the last quarter. Finally, Broadcrest Asset Management LLC lifted its holdings in shares of Bio-Techne by 100.0% during the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock worth $15,986,000 after acquiring an additional 100,000 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Stock Up 0.8 %

Shares of NASDAQ TECH opened at $74.51 on Friday. The firm’s fifty day moving average is $73.35 and its 200 day moving average is $74.75. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week 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 market cap of $11.84 billion, a price-to-earnings ratio of 79.27, a PEG ratio of 5.54 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The firm had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, equities research analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is currently 34.04%.

Wall Street Analyst Weigh In

TECH has been the subject of several research analyst reports. Benchmark reaffirmed 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 Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Scotiabank increased 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 report on Thursday, October 31st. Finally, Robert W. Baird upped their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

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.