State of New Jersey Common Pension Fund D Cuts Stake in Bio-Techne Co. (NASDAQ:TECH)

State of New Jersey Common Pension Fund D lowered its holdings in Bio-Techne Co. (NASDAQ:TECHFree Report) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,604 shares of the biotechnology company’s stock after selling 2,176 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Bio-Techne were worth $6,167,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TECH. Private Advisor Group LLC lifted its holdings in Bio-Techne by 31.2% in the first quarter. Private Advisor Group LLC now owns 1,571 shares of the biotechnology company’s stock worth $680,000 after acquiring an additional 374 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Bio-Techne by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,257 shares of the biotechnology company’s stock worth $2,276,000 after acquiring an additional 325 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Bio-Techne by 8.0% in the first quarter. Raymond James Trust N.A. now owns 1,466 shares of the biotechnology company’s stock worth $635,000 after acquiring an additional 108 shares during the last quarter. Synovus Financial Corp lifted its holdings in Bio-Techne by 13.3% in the first quarter. Synovus Financial Corp now owns 1,964 shares of the biotechnology company’s stock worth $848,000 after acquiring an additional 230 shares during the last quarter. Finally, Aviva PLC lifted its holdings in Bio-Techne by 9.9% in the first quarter. Aviva PLC now owns 17,298 shares of the biotechnology company’s stock worth $7,491,000 after acquiring an additional 1,552 shares during the last quarter. Institutional investors own 94.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TECH shares. StockNews.com cut Bio-Techne from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Citigroup cut their price target on Bio-Techne from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Royal Bank of Canada cut their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. KeyCorp cut their price target on Bio-Techne from $115.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, November 1st. Finally, UBS Group started coverage on Bio-Techne in a report on Thursday, December 7th. They set a “buy” rating and a $80.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and an average price target of $84.11.

View Our Latest Research Report on Bio-Techne

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $69.95 on Tuesday. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $89.91. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 50.69, a PEG ratio of 6.90 and a beta of 1.24. The stock’s 50 day moving average price is $72.12 and its 200 day moving average price is $70.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 12th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 9th. This represents a $0.32 annualized dividend and a yield of 0.46%. Bio-Techne’s payout ratio is 23.19%.

Bio-Techne Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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