California Public Employees Retirement System increased its position in shares of Bio-Techne Co. (NASDAQ:TECH – Get Rating) by 302.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 348,072 shares of the biotechnology company’s stock after purchasing an additional 261,515 shares during the quarter. California Public Employees Retirement System owned approximately 0.22% of Bio-Techne worth $28,848,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. grew its stake in Bio-Techne by 488.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 100 shares of the biotechnology company’s stock worth $28,000 after buying an additional 83 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Bio-Techne in the first quarter worth about $56,000. Ellevest Inc. raised its stake in Bio-Techne by 119.0% during the third quarter. Ellevest Inc. now owns 173 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 94 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Bio-Techne by 34.8% in the 3rd quarter. Global Retirement Partners LLC now owns 209 shares of the biotechnology company’s stock worth $62,000 after buying an additional 54 shares in the last quarter. Finally, Tobam boosted its stake in shares of Bio-Techne by 57.1% during the 3rd quarter. Tobam now owns 289 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 105 shares in the last quarter. 23.92% of the stock is currently owned by hedge funds and other institutional investors.
Bio-Techne Trading Up 0.1 %
Shares of TECH stock opened at $81.20 on Thursday. Bio-Techne Co. has a 12-month low of $68.00 and a 12-month high of $99.33. The company has a quick ratio of 2.84, a current ratio of 4.04 and a debt-to-equity ratio of 0.20. The firm has a market cap of $12.77 billion, a P/E ratio of 48.62, a PEG ratio of 3.65 and a beta of 1.26. The company has a 50 day moving average of $77.41 and a 200-day moving average of $79.29.
Bio-Techne Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Monday, May 15th will be issued a $0.08 dividend. The ex-dividend date is Friday, May 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.39%. Bio-Techne’s dividend payout ratio (DPR) is 19.16%.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. SVB Leerink lowered their price objective on shares of Bio-Techne from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Royal Bank of Canada lowered their target price on shares of Bio-Techne from $89.00 to $88.00 and set a “sector perform” rating on the stock in a report on Monday, February 6th. KeyCorp cut their price target on shares of Bio-Techne from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Robert W. Baird lifted their price target on shares of Bio-Techne from $99.00 to $100.00 in a research note on Thursday, May 4th. Finally, Benchmark reiterated a “buy” rating and issued a $120.00 target price on shares of Bio-Techne in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.45.
About Bio-Techne
Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.
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