Aperio Group LLC boosted its holdings in Bio-Techne Corp (NASDAQ:TECH) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,077 shares of the biotechnology company’s stock after purchasing an additional 2,319 shares during the period. Aperio Group LLC owned about 0.08% of Bio-Techne Corp worth $3,636,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. First Trust Advisors LP boosted its position in Bio-Techne Corp by 18.6% in the third quarter. First Trust Advisors LP now owns 361,521 shares of the biotechnology company’s stock worth $43,704,000 after purchasing an additional 56,775 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Bio-Techne Corp by 2.0% during the 3rd quarter. Nationwide Fund Advisors now owns 233,752 shares of the biotechnology company’s stock valued at $28,258,000 after buying an additional 4,693 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Bio-Techne Corp during the 3rd quarter valued at $3,566,000. Lord Abbett & CO. LLC lifted its position in shares of Bio-Techne Corp by 51.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 327,274 shares of the biotechnology company’s stock valued at $38,455,000 after buying an additional 111,629 shares during the last quarter. Finally, WFG Advisors LP lifted its position in shares of Bio-Techne Corp by 11.8% during the 2nd quarter. WFG Advisors LP now owns 5,686 shares of the biotechnology company’s stock valued at $668,000 after buying an additional 601 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.
Bio-Techne Corp (NASDAQ:TECH) opened at $124.70 on Friday. The company has a market capitalization of $4,738.47, a price-to-earnings ratio of 36.52, a PEG ratio of 3.16 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.25 and a current ratio of 2.87. Bio-Techne Corp has a 1 year low of $95.68 and a 1 year high of $132.57.
Bio-Techne Corp (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. Bio-Techne Corp had a return on equity of 14.11% and a net margin of 12.54%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. sell-side analysts forecast that Bio-Techne Corp will post 3.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.28 dividend on an annualized basis and a yield of 1.03%. Bio-Techne Corp’s dividend payout ratio (DPR) is 66.32%.
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In related news, Director Robert V. Baumgartner sold 5,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total transaction of $650,900.00. Following the sale, the director now owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen A. Holbrook sold 1,059 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total value of $128,912.07. Following the sale, the director now directly owns 914 shares in the company, valued at approximately $111,261.22. The disclosure for this sale can be found here. Insiders have sold a total of 6,259 shares of company stock worth $804,102 in the last three months. 3.40% of the stock is currently owned by insiders.
A number of research analysts have recently commented on TECH shares. Deutsche Bank AG set a $132.00 price target on Bio-Techne Corp and gave the company a “buy” rating in a research report on Wednesday, August 30th. Zacks Investment Research raised Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Wednesday, October 11th. BidaskClub cut Bio-Techne Corp from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Wells Fargo & Company started coverage on Bio-Techne Corp in a research report on Thursday, July 13th. They set a “market perform” rating on the stock. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of Bio-Techne Corp in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $131.25.
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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