Nationwide Fund Advisors Acquires 4,251 Shares of Bio-Techne Corp (TECH)

Nationwide Fund Advisors boosted its holdings in Bio-Techne Corp (NASDAQ:TECH) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 229,059 shares of the biotechnology company’s stock after acquiring an additional 4,251 shares during the period. Nationwide Fund Advisors owned about 0.61% of Bio-Techne Corp worth $26,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bridgewater Associates LP bought a new position in Bio-Techne Corp in the second quarter worth about $573,000. Ameriprise Financial Inc. lifted its holdings in Bio-Techne Corp by 5.4% in the second quarter. Ameriprise Financial Inc. now owns 206,099 shares of the biotechnology company’s stock worth $24,217,000 after acquiring an additional 10,629 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Bio-Techne Corp by 2.7% in the second quarter. Teachers Advisors LLC now owns 60,303 shares of the biotechnology company’s stock worth $7,086,000 after acquiring an additional 1,559 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in Bio-Techne Corp by 89.4% in the second quarter. Riverhead Capital Management LLC now owns 3,031 shares of the biotechnology company’s stock worth $356,000 after acquiring an additional 1,431 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Bio-Techne Corp by 1.5% in the second quarter. Alliancebernstein L.P. now owns 25,784 shares of the biotechnology company’s stock worth $3,030,000 after acquiring an additional 390 shares during the last quarter. 98.77% of the stock is currently owned by hedge funds and other institutional investors.

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A number of brokerages have issued reports on TECH. Zacks Investment Research cut shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub upgraded shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Wells Fargo & Company assumed coverage on shares of Bio-Techne Corp in a research note on Thursday, July 13th. They issued a “market perform” rating on the stock. Finally, Deutsche Bank AG raised their price target on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $127.50.

In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,059 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the sale, the director now directly owns 914 shares of the company’s stock, valued at $111,261.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 1,359 shares of company stock worth $164,122. Insiders own 2.70% of the company’s stock.

Shares of Bio-Techne Corp (TECH) opened at 121.58 on Friday. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $124.00. The firm has a 50 day moving average of $118.96 and a 200 day moving average of $111.92. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 59.89 and a beta of 0.78.

Bio-Techne Corp (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.10. The business had revenue of $156.60 million for the quarter, compared to the consensus estimate of $150.25 million. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.19%. The company’s revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Equities analysts predict that Bio-Techne Corp will post $3.99 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.05%. The ex-dividend date was Wednesday, August 16th. Bio-Techne Corp’s dividend payout ratio (DPR) is presently 65.98%.

About Bio-Techne Corp

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.

Institutional Ownership by Quarter for Bio-Techne Corp (NASDAQ:TECH)

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