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.
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