Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its holdings in Bio-Techne Co. (NASDAQ:TECH) by 31.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,837 shares of the biotechnology company’s stock after selling 23,993 shares during the quarter. Toronto Dominion Bank’s holdings in Bio-Techne were worth $4,223,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Bio-Techne by 1.5% in the 3rd quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock worth $511,232,000 after acquiring an additional 95,133 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Bio-Techne by 8.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock valued at $205,081,000 after purchasing an additional 216,044 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Bio-Techne by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after purchasing an additional 88,257 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Bio-Techne during the 3rd quarter worth about $89,724,000. Finally, American Capital Management Inc. lifted its stake in Bio-Techne by 2.5% during the third quarter. American Capital Management Inc. now owns 1,114,393 shares of the biotechnology company’s stock valued at $89,073,000 after buying an additional 27,508 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

TECH has been the topic of a number of recent analyst reports. Robert W. Baird boosted 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 boosted their target price 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. Finally, StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Bio-Techne Trading Down 1.3 %

Shares of NASDAQ:TECH opened at $75.69 on Friday. The firm has a fifty day moving average of $73.34 and a two-hundred day moving average of $74.61. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 12-month low of $61.16 and a 12-month high of $85.57. The firm has a market capitalization of $12.03 billion, a P/E ratio of 80.52, a price-to-earnings-growth ratio of 5.52 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $280.22 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts expect that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

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

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.