Summit Creek Advisors LLC Has $15.60 Million Position in BIO-TECHNE Corp (TECH)

Summit Creek Advisors LLC decreased its holdings in BIO-TECHNE Corp (NASDAQ:TECH) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,579 shares of the biotechnology company’s stock after selling 140 shares during the quarter. BIO-TECHNE comprises approximately 2.8% of Summit Creek Advisors LLC’s portfolio, making the stock its 9th biggest position. Summit Creek Advisors LLC’s holdings in BIO-TECHNE were worth $15,602,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Executive Wealth Management LLC purchased a new stake in BIO-TECHNE in the fourth quarter worth $38,000. First Hawaiian Bank lifted its stake in BIO-TECHNE by 59.9% in the first quarter. First Hawaiian Bank now owns 219 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 82 shares during the period. Portfolio Solutions LLC purchased a new stake in BIO-TECHNE in the fourth quarter worth $50,000. We Are One Seven LLC purchased a new stake in BIO-TECHNE in the fourth quarter worth $121,000. Finally, ETF Managers Group LLC lifted its stake in BIO-TECHNE by 18.1% in the fourth quarter. ETF Managers Group LLC now owns 869 shares of the biotechnology company’s stock worth $126,000 after acquiring an additional 133 shares during the period. 94.08% of the stock is owned by institutional investors.

BIO-TECHNE stock traded down $0.23 on Monday, hitting $201.27. 2,005 shares of the stock traded hands, compared to its average volume of 156,397. The company has a current ratio of 4.35, a quick ratio of 3.31 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.64 billion, a P/E ratio of 49.65, a P/E/G ratio of 4.57 and a beta of 1.25. BIO-TECHNE Corp has a 1 year low of $132.75 and a 1 year high of $206.04.

BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, February 5th. The biotechnology company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.98 by $0.08. The business had revenue of $174.50 million during the quarter, compared to analyst estimates of $171.39 million. BIO-TECHNE had a return on equity of 13.90% and a net margin of 14.02%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. Analysts predict that BIO-TECHNE Corp will post 3.68 earnings per share for the current year.

TECH has been the subject of a number of research analyst reports. BidaskClub lowered BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Zacks Investment Research lowered BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. Stephens raised BIO-TECHNE from an “equal weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a research report on Monday, January 14th. Craig Hallum reissued a “hold” rating and set a $179.00 price objective (up previously from $154.00) on shares of BIO-TECHNE in a research report on Tuesday, February 5th. Finally, ValuEngine raised BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 5th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $188.13.

ILLEGAL ACTIVITY NOTICE: This story was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another publication, it was illegally stolen and republished in violation of U.S. & international trademark & copyright law. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2019/04/15/summit-creek-advisors-llc-has-15-60-million-position-in-bio-techne-corp-tech.html.

About BIO-TECHNE

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.

Featured Story: What is required to own or exchange cryptocurrency?

Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BIO-TECHNE Corp (NASDAQ:TECH).

Institutional Ownership by Quarter for BIO-TECHNE (NASDAQ:TECH)

Receive News & Ratings for BIO-TECHNE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIO-TECHNE and related companies with MarketBeat.com's FREE daily email newsletter.