California State Teachers Retirement System Raises Holdings in Bio-Techne Co. (NASDAQ:TECH)

California State Teachers Retirement System lifted its stake in Bio-Techne Co. (NASDAQ:TECHFree Report) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 239,791 shares of the biotechnology company’s stock after purchasing an additional 787 shares during the quarter. California State Teachers Retirement System’s holdings in Bio-Techne were worth $18,502,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Bio-Techne during the fourth quarter worth $119,771,000. Brown Advisory Inc. lifted its position in Bio-Techne by 1,094.6% during the 4th quarter. Brown Advisory Inc. now owns 809,635 shares of the biotechnology company’s stock worth $62,471,000 after acquiring an additional 741,860 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Bio-Techne by 1,389.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 784,543 shares of the biotechnology company’s stock valued at $60,535,000 after purchasing an additional 731,869 shares during the last quarter. Corient Private Wealth LLC grew its stake in Bio-Techne by 4,482.1% during the 4th quarter. Corient Private Wealth LLC now owns 633,790 shares of the biotechnology company’s stock valued at $48,903,000 after purchasing an additional 619,958 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Bio-Techne by 1,116.2% in the fourth quarter. Handelsbanken Fonder AB now owns 403,148 shares of the biotechnology company’s stock valued at $31,107,000 after purchasing an additional 370,000 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TECH. Deutsche Bank Aktiengesellschaft dropped their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Citigroup lowered shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, May 22nd. Robert W. Baird boosted their target price on shares of Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Scotiabank assumed 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, Benchmark reiterated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.00.

Read Our Latest Stock Report on Bio-Techne

Bio-Techne Stock Down 0.5 %

Shares of TECH opened at $78.83 on Friday. The firm has a market cap of $12.42 billion, a P/E ratio of 62.56, a PEG ratio of 9.52 and a beta of 1.29. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $89.91. The stock’s 50 day moving average is $73.30 and its two-hundred day moving average is $71.89. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19.

Bio-Techne (NASDAQ:TECHGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $292.36 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. Analysts predict that Bio-Techne Co. will post 1.56 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. Bio-Techne’s dividend payout ratio is currently 25.40%.

About Bio-Techne

(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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