Trust Point Inc. Has $696,000 Holdings in Bio-Techne Co. (NASDAQ:TECH)

Trust Point Inc. increased its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,705 shares of the biotechnology company’s stock after acquiring an additional 326 shares during the period. Trust Point Inc.’s holdings in Bio-Techne were worth $696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 2,755,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Bio-Techne by 20.4% during 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 acquiring an additional 290,510 shares during the last quarter. Mackenzie Financial Corp increased its position in Bio-Techne by 8.2% in the 2nd 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of 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 worth $185,559,000 after acquiring an additional 88,257 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bio-Techne by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock worth $64,082,000 after purchasing an additional 76,641 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on TECH shares. Robert W. Baird raised their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Royal Bank of Canada decreased their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.60.

Bio-Techne Trading Up 1.6 %

NASDAQ TECH opened at $71.24 on Friday. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $85.57. The stock has a 50-day simple moving average of $74.12 and a 200 day simple moving average of $74.37. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $11.30 billion, a PE ratio of 68.50, a P/E/G ratio of 5.33 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $306.49 million. During the same period in the prior year, the business posted $0.56 EPS. Bio-Techne’s revenue was up 1.6% on a year-over-year basis. Research analysts forecast that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Bio-Techne’s dividend payout ratio is 30.77%.

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.