Palisade Asset Management LLC Purchases 1,160 Shares of Bio-Techne Co. (NASDAQ:TECH)

Palisade Asset Management LLC increased its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 2.1% in the third quarter, Holdings Channel reports. The institutional investor owned 56,609 shares of the biotechnology company’s stock after buying an additional 1,160 shares during the period. Palisade Asset Management LLC’s holdings in Bio-Techne were worth $4,525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TECH. Price T Rowe Associates Inc. MD grew its position in Bio-Techne by 92.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock valued at $404,470,000 after purchasing an additional 2,755,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew 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 valued at $122,879,000 after acquiring an additional 290,510 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Bio-Techne by 8.2% in the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock valued at $205,081,000 after acquiring an additional 216,044 shares during the last quarter. Broadcrest Asset Management LLC boosted its position in Bio-Techne by 100.0% during the third quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock valued at $15,986,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Bio-Techne by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock valued at $185,559,000 after purchasing an additional 88,257 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Ratings Changes

TECH has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Scotiabank lifted their price objective 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. Royal Bank of Canada cut 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 note on Thursday, August 8th. Finally, Robert W. Baird boosted their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.78.

Bio-Techne Stock Up 0.3 %

Shares of TECH opened at $71.28 on Friday. The firm has a market cap of $11.33 billion, a P/E ratio of 75.83, a price-to-earnings-growth ratio of 5.19 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The firm’s 50-day simple moving average is $73.84 and its 200 day simple moving average is $75.28.

Bio-Techne (NASDAQ:TECH) last posted its earnings results 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 company had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, November 8th. Bio-Techne’s payout ratio is 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.