Pathstone Holdings LLC Purchases 381 Shares of Bio-Techne Co. (NASDAQ:TECH)

Pathstone Holdings LLC lifted its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 1.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,604 shares of the biotechnology company’s stock after purchasing an additional 381 shares during the quarter. Pathstone Holdings LLC’s holdings in Bio-Techne were worth $2,526,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TECH. Empirical Finance LLC raised its holdings in Bio-Techne by 4.1% during the third quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company’s stock worth $326,000 after buying an additional 160 shares during the last quarter. First City Capital Management Inc. increased its position in shares of Bio-Techne by 6.2% during the first quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after acquiring an additional 185 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Bio-Techne by 3.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,333 shares of the biotechnology company’s stock worth $426,000 after acquiring an additional 200 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Bio-Techne by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 205 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Bio-Techne by 51.5% during the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 208 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on TECH shares. Robert W. Baird increased their price objective on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Royal Bank of Canada dropped 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 report on Thursday, August 8th. Finally, Scotiabank upped their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.78.

Bio-Techne Stock Performance

Shares of TECH stock 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. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 79.14, a P/E/G ratio of 5.20 and a beta of 1.28. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The firm’s 50-day simple moving average is $73.77 and its two-hundred day simple moving average is $75.22.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company had revenue of $289.46 million for the quarter, compared to analysts’ expectations of $280.22 million. During the same quarter in the previous year, the firm posted $0.35 EPS. Bio-Techne’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s payout ratio is 34.04%.

About Bio-Techne

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.