Oppenheimer Asset Management Inc. Sells 836 Shares of Bio-Techne Co. (NASDAQ:TECH)

Oppenheimer Asset Management Inc. decreased its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,378 shares of the biotechnology company’s stock after selling 836 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Bio-Techne were worth $5,386,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Bio-Techne by 92.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after purchasing an additional 2,755,065 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Bio-Techne by 8.2% in the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock valued at $205,081,000 after buying an additional 216,044 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Bio-Techne by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock valued at $185,559,000 after buying an additional 88,257 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Bio-Techne by 20.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after buying an additional 290,510 shares in the last quarter. Finally, Geneva Capital Management LLC increased its stake in Bio-Techne by 1.6% during the 3rd quarter. Geneva Capital Management LLC now owns 1,104,310 shares of the biotechnology company’s stock worth $88,267,000 after acquiring an additional 17,114 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 4.5 %

Shares of TECH opened at $72.54 on Friday. The company has a market capitalization of $11.53 billion, a PE ratio of 77.17, a PEG ratio of 5.54 and a beta of 1.28. The stock’s 50-day moving average price is $74.31 and its two-hundred day moving average price is $75.37. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 12 month low of $60.04 and a 12 month high of $85.57.

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

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. Bio-Techne’s dividend payout ratio (DPR) is currently 34.04%.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Robert W. Baird boosted their target price on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, 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 research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, 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.