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.
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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.
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