Amundi Purchases 19,844 Shares of Bio-Techne Corp $TECH

Amundi grew its position in Bio-Techne Corp (NASDAQ:TECH) by 7.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,174 shares of the biotechnology company’s stock after purchasing an additional 19,844 shares during the quarter. Amundi’s holdings in Bio-Techne were worth $15,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Segall Bryant & Hamill LLC lifted its stake in shares of Bio-Techne by 9.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock valued at $29,100,000 after buying an additional 48,838 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Bio-Techne during the second quarter valued at about $270,000. Charles Schwab Investment Management Inc. lifted its position in shares of Bio-Techne by 2.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after acquiring an additional 41,180 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Bio-Techne by 142.7% in the second quarter. Fifth Third Bancorp now owns 17,696 shares of the biotechnology company’s stock worth $910,000 after acquiring an additional 10,404 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Bio-Techne by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 49,542 shares of the biotechnology company’s stock worth $2,549,000 after purchasing an additional 457 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Trading Up 3.4%

TECH stock opened at $60.83 on Thursday. The firm has a fifty day moving average price of $61.44 and a 200 day moving average price of $55.71. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $79.28. The firm has a market cap of $9.48 billion, a PE ratio of 124.15, a price-to-earnings-growth ratio of 3.85 and a beta of 1.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.81 and a current ratio of 4.22.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The business had revenue of $286.56 million during the quarter, compared to analyst estimates of $292.02 million. During the same quarter last year, the business earned $0.42 earnings per share. Bio-Techne’s quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were given a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 annualized dividend and a yield of 0.5%. Bio-Techne’s dividend payout ratio (DPR) is currently 65.31%.

Wall Street Analysts Forecast Growth

TECH has been the topic of a number of research analyst reports. TD Cowen boosted their price target on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Evercore ISI set a $68.00 target price on shares of Bio-Techne in a report on Thursday, November 6th. Argus upped their target price on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Citigroup upgraded shares of Bio-Techne from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $70.00 in a report on Thursday, August 21st. Finally, Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.92.

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.