Segall Bryant & Hamill LLC decreased its holdings in BIO-TECHNE Corp (NASDAQ:TECH) by 10.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 310,682 shares of the biotechnology company’s stock after selling 36,183 shares during the period. BIO-TECHNE comprises approximately 1.1% of Segall Bryant & Hamill LLC’s holdings, making the stock its 22nd largest holding. Segall Bryant & Hamill LLC owned approximately 0.83% of BIO-TECHNE worth $46,925,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Financial Gravity Companies Inc. purchased a new position in shares of BIO-TECHNE during the fourth quarter valued at $118,000. We Are One Seven LLC increased its stake in shares of BIO-TECHNE by 241.0% during the first quarter. We Are One Seven LLC now owns 924 shares of the biotechnology company’s stock valued at $140,000 after buying an additional 653 shares during the period. Advisory Services Network LLC increased its stake in shares of BIO-TECHNE by 1,423.3% during the fourth quarter. Advisory Services Network LLC now owns 1,112 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 1,039 shares during the period. Institutional & Family Asset Management LLC purchased a new position in shares of BIO-TECHNE during the first quarter valued at $162,000. Finally, Advisor Group Inc. increased its stake in shares of BIO-TECHNE by 64.5% during the fourth quarter. Advisor Group Inc. now owns 1,288 shares of the biotechnology company’s stock valued at $167,000 after buying an additional 505 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.
In other BIO-TECHNE news, CEO Charles R. Kummeth sold 8,000 shares of BIO-TECHNE stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $160.00, for a total value of $1,280,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.40% of the stock is owned by insiders.
BIO-TECHNE traded down $0.39, hitting $162.21, on Thursday, according to Marketbeat Ratings. The company had a trading volume of 4,182 shares, compared to its average volume of 178,053. BIO-TECHNE Corp has a 12-month low of $109.12 and a 12-month high of $163.81. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.55 and a quick ratio of 4.30. The firm has a market capitalization of $6.05 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 2.65 and a beta of 0.71.
BIO-TECHNE (NASDAQ:TECH) last posted its earnings results on Wednesday, May 2nd. The biotechnology company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.07. BIO-TECHNE had a return on equity of 14.75% and a net margin of 18.29%. The company had revenue of $164.00 million for the quarter, compared to analyst estimates of $163.43 million. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. sell-side analysts expect that BIO-TECHNE Corp will post 4.05 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Monday, May 14th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 11th. This represents a $1.28 annualized dividend and a yield of 0.79%. BIO-TECHNE’s dividend payout ratio (DPR) is presently 37.43%.
TECH has been the topic of several research reports. Deutsche Bank cut their price target on BIO-TECHNE from $167.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, May 3rd. Leerink Swann set a $160.00 price target on BIO-TECHNE and gave the company a “buy” rating in a research note on Thursday, May 3rd. ValuEngine upgraded BIO-TECHNE from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research lowered BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Finally, BidaskClub upgraded BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 16th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $150.83.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.
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