Atlanta Capital Management Co. L L C reduced its holdings in BIO-TECHNE Corp (NASDAQ:TECH) by 15.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,602,498 shares of the biotechnology company’s stock after selling 301,581 shares during the period. BIO-TECHNE makes up 1.5% of Atlanta Capital Management Co. L L C’s portfolio, making the stock its 23rd largest holding. Atlanta Capital Management Co. L L C’s holdings in BIO-TECHNE were worth $327,086,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. BlackRock Inc. grew its stake in shares of BIO-TECHNE by 2.5% in the 2nd quarter. BlackRock Inc. now owns 3,776,455 shares of the biotechnology company’s stock worth $558,726,000 after buying an additional 91,519 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of BIO-TECHNE by 975.1% in the 2nd quarter. Schroder Investment Management Group now owns 2,211,502 shares of the biotechnology company’s stock worth $85,499,000 after buying an additional 2,005,804 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of BIO-TECHNE by 5.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,393,027 shares of the biotechnology company’s stock worth $206,098,000 after buying an additional 76,538 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of BIO-TECHNE by 13.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 677,968 shares of the biotechnology company’s stock worth $138,381,000 after buying an additional 79,963 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of BIO-TECHNE by 41.1% in the 3rd quarter. First Trust Advisors LP now owns 672,964 shares of the biotechnology company’s stock worth $137,359,000 after buying an additional 195,950 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.
TECH stock opened at $159.48 on Monday. BIO-TECHNE Corp has a 12 month low of $125.84 and a 12 month high of $206.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.59 and a quick ratio of 3.50. The stock has a market cap of $6.02 billion, a P/E ratio of 39.18, a PEG ratio of 2.81 and a beta of 1.04.
The company also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.80%. BIO-TECHNE’s dividend payout ratio is presently 31.45%.
A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Citigroup lifted their price objective on shares of BIO-TECHNE from $160.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. BidaskClub cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Leerink Swann set a $190.00 price objective on shares of BIO-TECHNE and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Finally, Craig Hallum cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $215.00 to $154.00 in a research note on Wednesday, October 31st. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. BIO-TECHNE has an average rating of “Buy” and an average target price of $184.13.
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BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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