Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,382 shares of the biotechnology company’s stock after purchasing an additional 204 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bio-Techne were worth $1,086,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TECH. FMR LLC grew its position in Bio-Techne by 869.7% during the first quarter. FMR LLC now owns 10,211 shares of the biotechnology company’s stock worth $2,028,000 after buying an additional 9,158 shares in the last quarter. Morgan Stanley raised its holdings in Bio-Techne by 92.0% in the 1st quarter. Morgan Stanley now owns 107,169 shares of the biotechnology company’s stock valued at $20,321,000 after acquiring an additional 51,351 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Bio-Techne during the 2nd quarter valued at $602,000. First Trust Advisors LP grew its holdings in shares of Bio-Techne by 10.9% during the 2nd quarter. First Trust Advisors LP now owns 399,969 shares of the biotechnology company’s stock worth $105,620,000 after purchasing an additional 39,346 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Bio-Techne by 0.3% in the second quarter. Retirement Systems of Alabama now owns 91,676 shares of the biotechnology company’s stock worth $24,209,000 after purchasing an additional 248 shares during the period. Institutional investors own 94.49% of the company’s stock.
Several research firms have commented on TECH. BidaskClub raised shares of Bio-Techne from a “sell” rating to a “hold” rating in a report on Friday, October 16th. SVB Leerink boosted their price objective on shares of Bio-Techne from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. Wells Fargo & Company restated a “hold” rating on shares of Bio-Techne in a research note on Tuesday, August 4th. Robert W. Baird lifted their price target on Bio-Techne from $289.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. Finally, KeyCorp began coverage on Bio-Techne in a research report on Monday, November 9th. They set a “sector weight” rating and a $340.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Bio-Techne has a consensus rating of “Hold” and an average target price of $297.55.
NASDAQ:TECH opened at $304.90 on Friday. The stock’s 50-day moving average is $273.96 and its 200-day moving average is $263.21. The stock has a market cap of $11.77 billion, a P/E ratio of 52.66, a price-to-earnings-growth ratio of 7.83 and a beta of 0.98. Bio-Techne Co. has a 1-year low of $155.17 and a 1-year high of $316.87. The company has a current ratio of 4.88, a quick ratio of 3.92 and a debt-to-equity ratio of 0.25.
Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.33. The firm had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $185.04 million. Bio-Techne had a net margin of 31.04% and a return on equity of 11.94%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 EPS. As a group, equities analysts forecast that Bio-Techne Co. will post 4.83 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, November 13th. Bio-Techne’s dividend payout ratio is currently 33.16%.
In other news, Director Alpna Seth sold 5,023 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $306.62, for a total value of $1,540,152.26. Following the sale, the director now directly owns 4,037 shares of the company’s stock, valued at approximately $1,237,824.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO James Hippel sold 3,600 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $309.79, for a total transaction of $1,115,244.00. Following the sale, the chief financial officer now owns 12,737 shares of the company’s stock, valued at $3,945,795.23. The disclosure for this sale can be found here. Insiders sold a total of 24,823 shares of company stock worth $7,445,234 in the last quarter. Corporate insiders own 3.80% of the company’s stock.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates in two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment offers proteins and reagent solutions, including cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents, and T-Cell activation technologies.
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