New York State Teachers Retirement System Has $8.18 Million Stock Position in Bio-Techne Corp (NASDAQ:TECH)

New York State Teachers Retirement System lowered its position in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 3.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 139,576 shares of the biotechnology company's stock after selling 5,733 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Bio-Techne worth $8,183,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Bio-Techne during the 4th quarter valued at about $3,940,000. GAMMA Investing LLC grew its position in Bio-Techne by 3,534.0% in the first quarter. GAMMA Investing LLC now owns 105,241 shares of the biotechnology company's stock valued at $6,170,000 after acquiring an additional 102,345 shares in the last quarter. CX Institutional purchased a new stake in shares of Bio-Techne during the first quarter valued at approximately $27,000. State of Alaska Department of Revenue lifted its position in shares of Bio-Techne by 2.2% during the first quarter. State of Alaska Department of Revenue now owns 18,524 shares of the biotechnology company's stock worth $1,086,000 after purchasing an additional 405 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Bio-Techne by 31.4% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 333,784 shares of the biotechnology company's stock valued at $19,570,000 after purchasing an additional 79,750 shares during the period. Institutional investors and hedge funds own 98.95% of the company's stock.

Bio-Techne Price Performance

NASDAQ TECH traded down $0.05 on Friday, reaching $53.14. The company's stock had a trading volume of 843,085 shares, compared to its average volume of 1,453,244. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.58 and a current ratio of 3.71. The stock has a market cap of $8.33 billion, a PE ratio of 64.80, a PEG ratio of 2.53 and a beta of 1.39. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $83.62. The firm's 50 day moving average is $49.94 and its two-hundred day moving average is $59.69.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biotechnology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.05. Bio-Techne had a return on equity of 13.17% and a net margin of 10.89%. The business had revenue of $316.18 million for the quarter, compared to analysts' expectations of $317.92 million. During the same period in the previous year, the firm posted $0.48 EPS. The company's quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts predict that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne declared that its board has authorized a stock buyback plan on Wednesday, May 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.60%. The ex-dividend date was Monday, May 19th. Bio-Techne's dividend payout ratio is currently 39.02%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Evercore ISI initiated coverage on Bio-Techne in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $75.00 price target on the stock. UBS Group cut their target price on Bio-Techne from $95.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wells Fargo & Company assumed coverage on shares of Bio-Techne in a research note on Friday, May 30th. They issued an "overweight" rating and a $59.00 price target for the company. Benchmark reaffirmed a "buy" rating and issued a $75.00 price target on shares of Bio-Techne in a report on Thursday, June 5th. Finally, Stifel Nicolaus decreased their price objective on shares of Bio-Techne from $75.00 to $60.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $72.00.

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.