Bio-Techne Co. (NASDAQ:TECH) Shares Bought by American Capital Management Inc.

American Capital Management Inc. grew its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,114,393 shares of the biotechnology company’s stock after purchasing an additional 27,508 shares during the period. Bio-Techne comprises about 2.9% of American Capital Management Inc.’s portfolio, making the stock its 10th biggest position. American Capital Management Inc. owned about 0.70% of Bio-Techne worth $89,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TECH. Comerica Bank increased its stake in Bio-Techne by 14.8% during the 1st quarter. Comerica Bank now owns 53,246 shares of the biotechnology company’s stock worth $3,748,000 after buying an additional 6,845 shares during the period. Cetera Investment Advisers raised its stake in shares of Bio-Techne by 135.4% in the first quarter. Cetera Investment Advisers now owns 23,423 shares of the biotechnology company’s stock valued at $1,649,000 after acquiring an additional 13,474 shares in the last quarter. Cetera Advisors LLC purchased a new position in Bio-Techne in the first quarter valued at $401,000. DekaBank Deutsche Girozentrale grew its stake in Bio-Techne by 3.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 17,926 shares of the biotechnology company’s stock worth $1,239,000 after purchasing an additional 599 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Bio-Techne by 80.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,972 shares of the biotechnology company’s stock worth $141,000 after purchasing an additional 879 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

NASDAQ TECH opened at $75.36 on Friday. The company has a fifty day moving average of $73.57 and a two-hundred day moving average of $75.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. Bio-Techne Co. has a 1 year low of $61.16 and a 1 year high of $85.57. The company has a market capitalization of $11.97 billion, a PE ratio of 80.17, a P/E/G ratio of 5.50 and a beta of 1.28.

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

Bio-Techne Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TECH shares. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank boosted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada dropped 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 report on Thursday, August 8th. Robert W. Baird lifted their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average target price of $81.78.

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.