Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. decreased its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 32.4% during the third quarter, HoldingsChannel reports. The firm owned 6,807 shares of the biotechnology company’s stock after selling 3,260 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Bio-Techne were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TECH. Itau Unibanco Holding S.A. acquired a new stake in shares of Bio-Techne in the second quarter worth $25,000. Brown Brothers Harriman & Co. increased its stake in shares of Bio-Techne by 922.5% in the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 369 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Bio-Techne in the second quarter worth $31,000. DT Investment Partners LLC acquired a new stake in shares of Bio-Techne in the second quarter worth $36,000. Finally, Versant Capital Management Inc increased its stake 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 worth $39,000 after acquiring an additional 514 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

TECH opened at $76.02 on Tuesday. 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 company has a market cap of $12.08 billion, a price-to-earnings ratio of 80.87, a PEG ratio of 5.50 and a beta of 1.27. Bio-Techne Co. has a 52-week low of $61.16 and a 52-week high of $85.57. The firm’s fifty day simple moving average is $73.55 and its two-hundred day simple moving average is $74.92.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The business 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 company’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Equities analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne’s payout ratio is 34.04%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TECH shares. Scotiabank increased 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 note on Thursday, October 31st. Royal Bank of Canada cut their price objective 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. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Finally, Robert W. Baird increased their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and an average target price 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.