Bio-Techne Corp $TECH Shares Acquired by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Bio-Techne Corp by 115.1% during the second quarter, now owning 8,769 shares valued at approximately $451,000.
• Multiple analysts have recently either upgraded or lowered their target prices for Bio-Techne, with a consensus rating of "Moderate Buy" and a target price of $70.58.
• Bio-Techne announced a quarterly dividend of $0.08 per share, indicating a 0.5% dividend yield and a dividend payout ratio of 69.57%.

Sequoia Financial Advisors LLC increased its position in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 115.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,769 shares of the biotechnology company's stock after buying an additional 4,693 shares during the period. Sequoia Financial Advisors LLC's holdings in Bio-Techne were worth $451,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bio-Techne by 17.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,630 shares of the biotechnology company's stock valued at $1,153,000 after buying an additional 2,980 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Bio-Techne in the first quarter valued at approximately $1,362,000. Park Avenue Securities LLC purchased a new stake in Bio-Techne in the second quarter valued at approximately $270,000. State of Alaska Department of Revenue grew its holdings in Bio-Techne by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 18,524 shares of the biotechnology company's stock valued at $1,086,000 after purchasing an additional 405 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in Bio-Techne by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 49,542 shares of the biotechnology company's stock valued at $2,549,000 after purchasing an additional 457 shares during the period. Institutional investors and hedge funds own 98.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TECH. Scotiabank lowered their target price on shares of Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating for the company in a report on Friday, July 11th. Stephens upgraded shares of Bio-Techne to a "strong-buy" rating and set a $65.00 target price for the company in a report on Tuesday, July 22nd. Cowen restated a "buy" rating on shares of Bio-Techne in a report on Tuesday, October 14th. Evercore ISI boosted their target price on shares of Bio-Techne from $60.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, October 7th. Finally, Citigroup upgraded shares of Bio-Techne from a "neutral" rating to a "buy" rating and boosted their target price for the company from $55.00 to $70.00 in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.58.

Bio-Techne Price Performance

TECH opened at $62.54 on Tuesday. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $80.80. The company has a 50 day moving average of $55.55 and a two-hundred day moving average of $52.63. The company has a market cap of $9.74 billion, a P/E ratio of 135.96, a P/E/G ratio of 3.94 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $315.14 million. During the same period in the previous year, the firm earned $0.49 earnings per share. Bio-Techne's revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.08 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Bio-Techne's dividend payout ratio is 69.57%.

Bio-Techne 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.

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