AHL Partners LLP raised its stake in Bio-Techne Corp (NASDAQ:TECH) by 270.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,645 shares of the biotechnology company’s stock after buying an additional 5,583 shares during the quarter. AHL Partners LLP’s holdings in Bio-Techne Corp were worth $899,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Bio-Techne Corp by 12.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 163 shares in the last quarter. First Financial Equity Corporation acquired a new stake in shares of Bio-Techne Corp during the first quarter worth about $203,000. Underhill Investment Management LLC acquired a new stake in shares of Bio-Techne Corp during the second quarter worth about $223,000. LS Investment Advisors LLC lifted its position in shares of Bio-Techne Corp by 22.0% during the second quarter. LS Investment Advisors LLC now owns 2,089 shares of the biotechnology company’s stock worth $245,000 after purchasing an additional 377 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Bio-Techne Corp by 6.0% during the second quarter. Huntington National Bank now owns 2,138 shares of the biotechnology company’s stock worth $251,000 after purchasing an additional 121 shares in the last quarter. 98.54% of the stock is currently owned by institutional investors.
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Shares of Bio-Techne Corp (NASDAQ:TECH) opened at 125.05 on Friday. The stock has a 50 day moving average price of $122.20 and a 200 day moving average price of $115.66. Bio-Techne Corp has a 12-month low of $95.68 and a 12-month high of $125.88. The firm has a market capitalization of $4.67 billion, a P/E ratio of 61.60 and a beta of 0.76.
Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a return on equity of 14.19% and a net margin of 12.93%. The business had revenue of $156.60 million for the quarter, compared to analyst estimates of $150.25 million. During the same period last year, the company earned $0.92 EPS. The firm’s revenue was up 16.2% on a year-over-year basis. Equities analysts anticipate that Bio-Techne Corp will post $3.99 earnings per share for the current fiscal year.
A number of analysts recently weighed in on TECH shares. Zacks Investment Research lowered shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Citigroup Inc. restated a “buy” rating and set a $115.00 target price (down from $125.00) on shares of Bio-Techne Corp in a research note on Tuesday. Wells Fargo & Company began coverage on shares of Bio-Techne Corp in a research note on Thursday, July 13th. They issued a “market perform” rating on the stock. BidaskClub lowered shares of Bio-Techne Corp from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Deutsche Bank AG set a $132.00 price target on shares of Bio-Techne Corp and gave the company a “buy” rating in a research note on Wednesday, August 30th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $126.25.
In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,059 shares of Bio-Techne Corp stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total transaction of $128,912.07. Following the transaction, the director now directly owns 914 shares in the company, valued at $111,261.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 1,359 shares of company stock worth $164,632. Corporate insiders own 3.40% of the company’s stock.
Bio-Techne Corp Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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