Verdence Capital Advisors LLC Buys 717 Shares of Bio-Techne Co. (NASDAQ:TECH)

Verdence Capital Advisors LLC boosted its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,794 shares of the biotechnology company’s stock after purchasing an additional 717 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Bio-Techne were worth $943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its position in shares of Bio-Techne by 29.1% during the first quarter. Private Advisor Group LLC now owns 10,031 shares of the biotechnology company’s stock worth $706,000 after purchasing an additional 2,259 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Bio-Techne by 2.3% in the first quarter. Janney Montgomery Scott LLC now owns 10,164 shares of the biotechnology company’s stock valued at $715,000 after buying an additional 227 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in Bio-Techne by 2.4% in the first quarter. Texas Permanent School Fund Corp now owns 32,493 shares of the biotechnology company’s stock worth $2,287,000 after acquiring an additional 757 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Bio-Techne by 18.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 32,088 shares of the biotechnology company’s stock worth $2,259,000 after acquiring an additional 4,989 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Bio-Techne during the first quarter worth about $772,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.6 %

Bio-Techne stock opened at $75.96 on Monday. The firm has a market cap of $12.07 billion, a price-to-earnings ratio of 80.81, a price-to-earnings-growth ratio of 5.54 and a beta of 1.28. Bio-Techne Co. has a 52 week low of $55.63 and a 52 week high of $85.57. The business’s 50-day moving average price is $74.14 and its 200 day moving average price is $75.23. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

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

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio (DPR) is currently 34.04%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Scotiabank lifted their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Robert W. Baird upped their target price on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Royal Bank of Canada lowered their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.78.

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.