Rowland & Co. Investment Counsel ADV cut its holdings in BIO-TECHNE Corp (NASDAQ:TECH) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,970 shares of the biotechnology company’s stock after selling 1,930 shares during the quarter. Rowland & Co. Investment Counsel ADV owned 0.05% of BIO-TECHNE worth $2,605,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of TECH. Confluence Investment Management LLC grew its stake in BIO-TECHNE by 2.3% in the 4th quarter. Confluence Investment Management LLC now owns 31,875 shares of the biotechnology company’s stock valued at $4,130,000 after purchasing an additional 727 shares during the period. California Public Employees Retirement System grew its stake in BIO-TECHNE by 2.8% in the 3rd quarter. California Public Employees Retirement System now owns 71,993 shares of the biotechnology company’s stock valued at $8,703,000 after purchasing an additional 1,993 shares during the period. Bamco Inc. NY grew its stake in BIO-TECHNE by 1.4% in the 3rd quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock valued at $183,780,000 after purchasing an additional 20,286 shares during the period. Cubist Systematic Strategies LLC bought a new position in BIO-TECHNE in the 3rd quarter valued at $390,000. Finally, Zions Bancorporation bought a new position in BIO-TECHNE in the 3rd quarter valued at $178,000. 96.96% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on TECH. Leerink Swann reiterated a “buy” rating on shares of BIO-TECHNE in a research note on Tuesday, December 5th. Zacks Investment Research downgraded BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. BidaskClub downgraded BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Citigroup restated a “buy” rating and issued a $115.00 target price (down previously from $125.00) on shares of BIO-TECHNE in a research note on Tuesday, October 24th. Finally, Deutsche Bank set a $145.00 target price on BIO-TECHNE and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. BIO-TECHNE has an average rating of “Buy” and a consensus price target of $135.00.
In related news, Director Robert V. Baumgartner sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total transaction of $650,900.00. Following the transaction, the director now directly owns 12,712 shares in the company, valued at approximately $1,654,848.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by company insiders.
BIO-TECHNE Corp (NASDAQ:TECH) traded down $0.65 during trading hours on Thursday, hitting $140.02. The company’s stock had a trading volume of 187,674 shares, compared to its average volume of 176,817. The stock has a market cap of $5,254.44, a PE ratio of 72.55, a P/E/G ratio of 3.50 and a beta of 0.75. The company has a current ratio of 2.87, a quick ratio of 2.25 and a debt-to-equity ratio of 0.35. BIO-TECHNE Corp has a 1 year low of $95.68 and a 1 year high of $141.83.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. The company had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. BIO-TECHNE had a return on equity of 14.11% and a net margin of 12.54%. BIO-TECHNE’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $0.84 EPS. equities analysts expect that BIO-TECHNE Corp will post 3.76 earnings per share for the current fiscal year.
BIO-TECHNE Company Profile
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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