State of New Jersey Common Pension Fund D Lowers Holdings in Bio-Techne Co. (NASDAQ:TECH)

State of New Jersey Common Pension Fund D lessened its position in shares of Bio-Techne Co. (NASDAQ:TECHFree Report) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,604 shares of the biotechnology company’s stock after selling 2,176 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Bio-Techne worth $6,167,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TECH. Quantbot Technologies LP purchased a new stake in shares of Bio-Techne in the first quarter worth about $56,000. Harbour Investments Inc. boosted its stake in shares of Bio-Techne by 305.0% in the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock worth $27,000 after buying an additional 244 shares during the last quarter. Huntington National Bank boosted its stake in shares of Bio-Techne by 124.7% in the second quarter. Huntington National Bank now owns 337 shares of the biotechnology company’s stock worth $28,000 after buying an additional 187 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Bio-Techne in the fourth quarter worth about $29,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bio-Techne in the third quarter worth about $27,000. Hedge funds and other institutional investors own 94.64% of the company’s stock.

Wall Street Analyst Weigh In

TECH has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Friday, February 2nd. UBS Group initiated coverage on Bio-Techne in a research report on Thursday, December 7th. They set a “buy” rating and a $80.00 price target on the stock. Scotiabank initiated coverage on Bio-Techne in a research report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price target on the stock. Finally, Citigroup lowered their price target on Bio-Techne from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.11.

Check Out Our Latest Stock Analysis on TECH

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $69.95 on Tuesday. The business has a 50 day simple moving average of $72.12 and a two-hundred day simple moving average of $70.68. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $89.91. The stock has a market capitalization of $11.00 billion, a P/E ratio of 50.69, a PEG ratio of 6.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 12th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.46%. Bio-Techne’s payout ratio is 23.19%.

Bio-Techne Company Profile

(Free Report)

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.

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

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