Teachers Retirement System of The State of Kentucky Takes $4.64 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Bio-Techne Co. (NASDAQ:TECHGet Rating) during the third quarter, Holdings Channel reports. The institutional investor purchased 16,316 shares of the biotechnology company’s stock, valued at approximately $4,635,000.

A number of other institutional investors and hedge funds have also modified their holdings of TECH. Private Advisor Group LLC grew its holdings in shares of Bio-Techne by 31.2% during the first quarter. Private Advisor Group LLC now owns 1,571 shares of the biotechnology company’s stock valued at $680,000 after buying an additional 374 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Bio-Techne by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,257 shares of the biotechnology company’s stock valued at $2,276,000 after buying an additional 325 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Bio-Techne by 8.0% during the first quarter. Raymond James Trust N.A. now owns 1,466 shares of the biotechnology company’s stock valued at $635,000 after buying an additional 108 shares in the last quarter. Synovus Financial Corp grew its stake in Bio-Techne by 13.3% in the first quarter. Synovus Financial Corp now owns 1,964 shares of the biotechnology company’s stock valued at $848,000 after purchasing an additional 230 shares in the last quarter. Finally, Aviva PLC grew its stake in Bio-Techne by 9.9% in the first quarter. Aviva PLC now owns 17,298 shares of the biotechnology company’s stock valued at $7,491,000 after purchasing an additional 1,552 shares in the last quarter. Hedge funds and other institutional investors own 23.92% of the company’s stock.

Bio-Techne Stock Performance

TECH opened at $72.31 on Friday. Bio-Techne Co. has a 52-week low of $68.00 and a 52-week high of $113.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.15 and a current ratio of 4.40. The company has a market cap of $11.37 billion, a PE ratio of 44.91, a price-to-earnings-growth ratio of 2.31 and a beta of 1.24. The stock has a 50-day moving average of $77.53 and a 200-day moving average of $80.46.

Bio-Techne Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Monday, February 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, February 10th. This is a boost from Bio-Techne’s previous quarterly dividend of $0.02. Bio-Techne’s payout ratio is currently 19.88%.

Analyst Ratings Changes

A number of brokerages have commented on TECH. Citigroup upgraded Bio-Techne from a “neutral” rating to a “buy” rating and boosted their target price for the company from $81.25 to $100.00 in a research note on Monday, December 12th. KeyCorp lowered their target price on Bio-Techne from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. SVB Leerink lowered their target price on Bio-Techne from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Robert W. Baird lowered their target price on Bio-Techne from $111.50 to $99.00 in a research note on Friday, February 3rd. Finally, Benchmark restated a “buy” rating and issued a $120.00 target price on shares of Bio-Techne in a research note on Friday, February 3rd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Bio-Techne currently has a consensus rating of “Moderate Buy” and an average target price of $104.36.

About Bio-Techne

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Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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