Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its holdings in Bio-Techne Co. (NASDAQ:TECH) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 997,166 shares of the biotechnology company’s stock after selling 109,321 shares during the period. Janus Henderson Group PLC’s holdings in Bio-Techne were worth $79,703,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. 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 position 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 in the last quarter. 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, Brooklyn Investment Group acquired a new stake in shares of Bio-Techne in the third quarter worth $39,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Trading Up 1.1 %

NASDAQ TECH opened at $75.89 on Thursday. Bio-Techne Co. has a 12 month low of $61.16 and a 12 month high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 80.73, a price-to-earnings-growth ratio of 5.55 and a beta of 1.27. The company’s fifty day moving average price is $73.52 and its two-hundred day moving average price is $74.87.

Bio-Techne (NASDAQ:TECH) last posted 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 net margin of 12.86% and a return on equity of 12.76%. The company had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. During the same period last year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a $0.08 dividend. The ex-dividend date of this dividend 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 currently 34.04%.

Analyst Ratings Changes

A number of research firms recently weighed in on TECH. Royal Bank of Canada lowered their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird raised their price target 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. Scotiabank raised their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.