Charles Schwab Investment Management Inc. Has $113.02 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Charles Schwab Investment Management Inc. cut its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,414,003 shares of the biotechnology company’s stock after selling 88,911 shares during the period. Charles Schwab Investment Management Inc. owned 0.89% of Bio-Techne worth $113,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Bio-Techne in the second quarter valued at approximately $25,000. Brown Brothers Harriman & Co. lifted its holdings in Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Bio-Techne during the second quarter worth $31,000. DT Investment Partners LLC acquired a new position in shares of Bio-Techne in the second quarter valued at $36,000. Finally, Versant Capital Management Inc raised its position in shares of Bio-Techne by 1,427.8% in the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 514 shares during the period. 98.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TECH has been the topic of a number of research reports. Royal Bank of Canada decreased their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Scotiabank upped their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Finally, Robert W. Baird lifted their target price on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have assigned 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 price target of $81.78.

Bio-Techne Stock Performance

TECH opened at $74.39 on Tuesday. 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 has a market cap of $11.82 billion, a P/E ratio of 79.14, a price-to-earnings-growth ratio of 5.20 and a beta of 1.28. The business’s fifty day moving average is $73.77 and its 200-day moving average is $75.22.

Bio-Techne (NASDAQ:TECH) last released 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 firm had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. Sell-side analysts expect that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Bio-Techne’s payout ratio is presently 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.