Mutual of America Capital Management LLC Purchases 8,852 Shares of Bio-Techne Co. (NASDAQ:TECH)

Mutual of America Capital Management LLC grew its position in Bio-Techne Co. (NASDAQ:TECH) by 27.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,673 shares of the biotechnology company’s stock after acquiring an additional 8,852 shares during the period. Mutual of America Capital Management LLC’s holdings in Bio-Techne were worth $3,331,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Bio-Techne by 92.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after purchasing an additional 2,755,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Bio-Techne by 20.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after acquiring an additional 290,510 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Bio-Techne by 8.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after acquiring an additional 216,044 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Bio-Techne by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock valued at $185,559,000 after acquiring an additional 88,257 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Bio-Techne by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after purchasing an additional 76,641 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bio-Techne Stock Performance

NASDAQ:TECH opened at $71.28 on Friday. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 75.61, a PEG ratio of 4.84 and a beta of 1.28. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. 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 stock has a fifty day moving average price of $73.84 and a 200-day moving average price of $75.28.

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

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were given a dividend of $0.08 per share. The ex-dividend date was Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.45%. Bio-Techne’s dividend payout ratio is currently 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.