Virginia Retirement Systems ET AL Sells 3,600 Shares of Bio-Techne Corp (TECH)

Virginia Retirement Systems ET AL lowered its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 16.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,300 shares of the biotechnology company’s stock after selling 3,600 shares during the period. Virginia Retirement Systems ET AL’s holdings in Bio-Techne were worth $2,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. increased its holdings in shares of Bio-Techne by 5.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 49,945 shares of the biotechnology company’s stock worth $5,868,000 after buying an additional 2,371 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Bio-Techne by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock worth $357,489,000 after buying an additional 36,768 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of Bio-Techne during the 2nd quarter worth approximately $3,504,000. American Century Companies Inc. increased its holdings in shares of Bio-Techne by 174.8% during the 2nd quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock worth $85,962,000 after buying an additional 465,398 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Bio-Techne by 55.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 48,208 shares of the biotechnology company’s stock worth $5,664,000 after buying an additional 17,158 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Shares of Bio-Techne Corp (NASDAQ:TECH) opened at $129.81 on Tuesday. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $136.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25. The firm has a market cap of $4,989.59, a P/E ratio of 38.38, a P/E/G ratio of 3.32 and a beta of 0.75.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.08. Bio-Techne had a net margin of 12.54% and a return on equity of 14.11%. The firm had revenue of $144.61 million during the quarter, compared to the consensus estimate of $142.37 million. During the same quarter last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. equities analysts expect that Bio-Techne Corp will post 3.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were issued a $0.32 dividend. The ex-dividend date was Thursday, November 9th. This represents a $1.28 annualized dividend and a yield of 0.99%. Bio-Techne’s dividend payout ratio (DPR) is presently 66.32%.

In related news, Director Robert V. Baumgartner sold 5,000 shares of Bio-Techne stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total value of $650,900.00. Following the completion of the sale, the director now owns 12,712 shares in the company, valued at approximately $1,654,848.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen A. Holbrook sold 1,059 shares of Bio-Techne stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the completion of the sale, the director now owns 914 shares of the company’s stock, valued at approximately $111,261.22. The disclosure for this sale can be found here. Insiders sold a total of 6,259 shares of company stock valued at $804,102 in the last quarter. 3.40% of the stock is owned by insiders.

A number of analysts have recently issued reports on the stock. Deutsche Bank set a $132.00 price target on shares of Bio-Techne and gave the stock a “buy” rating in a report on Wednesday, August 30th. Zacks Investment Research downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. BidaskClub upgraded shares of Bio-Techne from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Citigroup restated a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of Bio-Techne in a report on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $134.33.

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About Bio-Techne

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.

Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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