Venturi Wealth Management LLC Buys 348 Shares of Bio-Techne Co. (NASDAQ:TECH)

Venturi Wealth Management LLC increased its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 58.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 947 shares of the biotechnology company’s stock after acquiring an additional 348 shares during the period. Venturi Wealth Management LLC’s holdings in Bio-Techne were worth $76,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position 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. Mackenzie Financial Corp lifted its stake 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 buying an additional 216,044 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after buying an additional 88,257 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Bio-Techne by 20.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock valued at $122,879,000 after buying an additional 290,510 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Bio-Techne by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 995,824 shares of the biotechnology company’s stock valued at $70,095,000 after acquiring an additional 12,991 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TECH shares. 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. Royal Bank of Canada lowered their price objective on 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. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday. Scotiabank raised their price target 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. Finally, Robert W. Baird boosted their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company 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’s stock. Based on data from MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne Price Performance

TECH stock opened at $72.54 on Friday. The company’s 50-day moving average price is $74.31 and its two-hundred day moving average price is $75.37. Bio-Techne Co. has a 12 month low of $60.04 and a 12 month high of $85.57. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The firm has a market cap of $11.53 billion, a P/E ratio of 77.17, a P/E/G ratio of 5.43 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data 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 business had revenue of $289.46 million during 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 company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. On average, analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, November 8th. Bio-Techne’s dividend payout ratio is presently 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.