Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,125 shares of the biotechnology company’s stock after selling 5,590 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Bio-Techne were worth $4,232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC grew its position in shares of Bio-Techne by 831.4% during the fourth quarter. Cerity Partners LLC now owns 46,205 shares of the biotechnology company’s stock worth $3,565,000 after buying an additional 41,244 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Bio-Techne by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company’s stock worth $56,646,000 after acquiring an additional 118,534 shares in the last quarter. Sei Investments Co. increased its position in shares of Bio-Techne by 16.2% in the 4th quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock worth $66,089,000 after purchasing an additional 119,295 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Bio-Techne by 55.3% in the 4th quarter. Hsbc Holdings PLC now owns 261,370 shares of the biotechnology company’s stock valued at $20,166,000 after purchasing an additional 93,107 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Bio-Techne by 9.7% during the fourth quarter. TD Asset Management Inc now owns 135,632 shares of the biotechnology company’s stock worth $10,465,000 after purchasing an additional 11,947 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Price Performance

NASDAQ TECH opened at $81.59 on Thursday. The company has a 50-day moving average price of $76.25 and a two-hundred day moving average price of $73.10. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of 64.75, a price-to-earnings-growth ratio of 8.55 and a beta of 1.29. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week high of $85.85.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The firm had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $292.36 million. During the same period last year, the firm earned $0.47 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Analysts forecast that Bio-Techne Co. will post 1.56 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on TECH shares. Benchmark reissued a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Thursday, May 2nd. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, May 22nd. Robert W. Baird boosted their target price on shares of Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

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.