American Century Companies Inc. reduced its stake in BIO-TECHNE Corp (NASDAQ:TECH) by 24.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 420,989 shares of the biotechnology company’s stock after selling 135,412 shares during the period. American Century Companies Inc. owned 1.12% of BIO-TECHNE worth $54,539,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. 1st Global Advisors Inc. boosted its position in shares of BIO-TECHNE by 0.7% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,542 shares of the biotechnology company’s stock worth $651,000 after purchasing an additional 37 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of BIO-TECHNE by 1.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,172 shares of the biotechnology company’s stock worth $1,313,000 after purchasing an additional 173 shares during the last quarter. Stifel Financial Corp boosted its position in shares of BIO-TECHNE by 2.0% in the 2nd quarter. Stifel Financial Corp now owns 9,103 shares of the biotechnology company’s stock worth $1,072,000 after purchasing an additional 175 shares during the last quarter. Wasatch Advisors Inc. boosted its position in shares of BIO-TECHNE by 6.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 7,169 shares of the biotechnology company’s stock worth $842,000 after purchasing an additional 445 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of BIO-TECHNE by 3.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,180 shares of the biotechnology company’s stock worth $1,473,000 after purchasing an additional 452 shares during the last quarter. Institutional investors and hedge funds own 98.00% of the company’s stock.
In other BIO-TECHNE news, Director Charles A. Dinarello sold 5,000 shares of BIO-TECHNE stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total value of $680,300.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.40% of the company’s stock.
Several research analysts have recently issued reports on TECH shares. Zacks Investment Research upgraded BIO-TECHNE from a “hold” rating to a “buy” rating and set a $158.00 price target on the stock in a research report on Saturday, January 20th. Citigroup reaffirmed a “buy” rating and set a $115.00 price objective (down previously from $125.00) on shares of BIO-TECHNE in a research note on Tuesday, October 24th. Leerink Swann reaffirmed a “buy” rating on shares of BIO-TECHNE in a research note on Tuesday, December 5th. Deutsche Bank set a $145.00 price objective on BIO-TECHNE and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $154.00 price objective on shares of BIO-TECHNE in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $145.00.
Shares of BIO-TECHNE Corp (NASDAQ TECH) opened at $141.20 on Monday. The company has a market capitalization of $5,291.33, a price-to-earnings ratio of 38.79, a P/E/G ratio of 2.58 and a beta of 0.78. BIO-TECHNE Corp has a 12 month low of $98.22 and a 12 month high of $143.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.49 and a current ratio of 3.10.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.10. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The firm had revenue of $154.15 million for the quarter, compared to the consensus estimate of $145.93 million. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. analysts expect that BIO-TECHNE Corp will post 4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, February 15th. BIO-TECHNE’s dividend payout ratio is 41.97%.
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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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