Sequoia Financial Advisors LLC Increases Stock Position in Bio-Techne Corp $TECH

Sequoia Financial Advisors LLC increased its position in Bio-Techne Corp (NASDAQ:TECHFree Report) by 115.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 8,769 shares of the biotechnology company’s stock after buying an additional 4,693 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Bio-Techne were worth $451,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC purchased a new position in shares of Bio-Techne in the first quarter valued at $34,000. Federated Hermes Inc. purchased a new position in shares of Bio-Techne in the first quarter valued at $41,000. Caitong International Asset Management Co. Ltd boosted its stake in Bio-Techne by 1,239.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 855 shares during the last quarter. Horizon Financial Services LLC bought a new position in Bio-Techne during the 1st quarter valued at $69,000. Finally, Mather Group LLC. boosted its stake in Bio-Techne by 78.4% during the 1st quarter. Mather Group LLC. now owns 1,215 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 534 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Trading Up 1.1%

Bio-Techne stock opened at $62.54 on Tuesday. The firm’s 50-day moving average is $55.55 and its 200-day moving average is $52.63. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $80.80. The company has a market cap of $9.74 billion, a P/E ratio of 135.96, a PEG ratio of 3.94 and a beta of 1.48.

Bio-Techne (NASDAQ:TECHGet Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The company had revenue of $316.96 million for the quarter, compared to the consensus estimate of $315.14 million. During the same period last year, the firm posted $0.49 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 18th. Bio-Techne’s dividend payout ratio (DPR) is 69.57%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TECH shares. Stephens upgraded shares of Bio-Techne to a “strong-buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, July 22nd. Scotiabank reduced their price objective on shares of Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 11th. TD Cowen upped their price objective on Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Royal Bank Of Canada raised Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 3rd. Finally, Citigroup raised Bio-Techne from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $70.00 in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.58.

Get Our Latest Analysis on TECH

Bio-Techne 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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