39,860 Shares of Bio-Techne Corp $TECH Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) during the 3rd quarter, Holdings Channel reports. The fund purchased 39,860 shares of the biotechnology company’s stock, valued at approximately $2,889,000.

A number of other institutional investors have also added to or reduced their stakes in TECH. HBK Investments L P bought a new stake in shares of Bio-Techne during the second quarter worth $482,186,000. S&CO Inc. bought a new position in shares of Bio-Techne in the 2nd quarter valued at $5,412,000. American Capital Management Inc. boosted its holdings in shares of Bio-Techne by 8.5% during the 1st quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company’s stock valued at $53,364,000 after acquiring an additional 79,979 shares in the last quarter. Maven Securities LTD acquired a new stake in shares of Bio-Techne during the 2nd quarter valued at $3,865,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Bio-Techne by 2,094.5% during the 2nd quarter. Squarepoint Ops LLC now owns 91,268 shares of the biotechnology company’s stock valued at $6,448,000 after acquiring an additional 87,109 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Trading Up 0.2%

Shares of NASDAQ:TECH traded up $0.12 during trading on Friday, reaching $72.78. The stock had a trading volume of 2,307,614 shares, compared to its average volume of 2,793,068. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. The firm’s fifty day moving average is $72.48 and its 200 day moving average is $63.38. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.83. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 63.29, a P/E/G ratio of 5.27 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, November 4th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $299.71 million for the quarter, compared to the consensus estimate of $292.60 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%. As a group, equities analysts forecast that Bio-Techne Corp will post 1.75 EPS for the current fiscal year.

Bio-Techne Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 13th will be given a dividend of $0.08 per share. This is a drop from Bio-Techne’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Bio-Techne’s payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TECH shares. Benchmark reaffirmed a “hold” rating on shares of Bio-Techne in a report on Wednesday, August 19th. Zacks Research raised Bio-Techne from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. Argus cut Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 26th. Weiss Ratings raised Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Wells Fargo & Company lowered shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $62.00 to $73.00 in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne currently has an average rating of “Hold” and a consensus target price of $68.92.

Bio-Techne Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research and diagnostic products for biotechnology, pharmaceutical, academic, clinical and other laboratory customers. The company supports biological research, drug discovery and development, and diagnostic testing through a portfolio of reagents, instruments and analytical technologies.

Its products include proteins, antibodies, immunoassays, flow cytometry reagents, molecular biology tools and cell culture materials.