Stone Run Capital LLC cut its position in BIO-TECHNE Corp (NASDAQ:TECH) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,925 shares of the biotechnology company’s stock after selling 3,000 shares during the quarter. BIO-TECHNE makes up approximately 2.7% of Stone Run Capital LLC’s investment portfolio, making the stock its 12th largest holding. Stone Run Capital LLC owned about 0.11% of BIO-TECHNE worth $5,173,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new position in BIO-TECHNE in the fourth quarter worth about $118,000. Advisory Services Network LLC raised its holdings in BIO-TECHNE by 1,423.3% in the fourth quarter. Advisory Services Network LLC now owns 1,112 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 1,039 shares in the last quarter. Advisor Group Inc. grew its stake in shares of BIO-TECHNE by 64.5% during the fourth quarter. Advisor Group Inc. now owns 1,288 shares of the biotechnology company’s stock worth $167,000 after acquiring an additional 505 shares during the last quarter. Zions Bancorporation purchased a new stake in shares of BIO-TECHNE during the third quarter worth about $178,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in shares of BIO-TECHNE during the fourth quarter worth about $205,000. Institutional investors and hedge funds own 97.12% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 16th. Deutsche Bank set a $163.00 price target on BIO-TECHNE and gave the stock a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded BIO-TECHNE from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a research note on Saturday, February 10th. Craig Hallum restated a “buy” rating and set a $160.00 price target (up previously from $140.00) on shares of BIO-TECHNE in a research note on Wednesday, February 7th. Finally, Robert W. Baird boosted their price target on BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $148.60.
In related news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total value of $680,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.40% of the stock is owned by corporate insiders.
Shares of TECH stock opened at $148.68 on Wednesday. BIO-TECHNE Corp has a 52 week low of $98.22 and a 52 week high of $149.05. The firm has a market capitalization of $5,545.40, a PE ratio of 40.65, a PEG ratio of 2.84 and a beta of 0.75. The company has a current ratio of 3.10, a quick ratio of 2.49 and a debt-to-equity ratio of 0.36.
BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.10. The firm had revenue of $154.15 million for the quarter, compared to analyst estimates of $145.93 million. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. BIO-TECHNE’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. research analysts forecast that BIO-TECHNE Corp will post 4.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were given a $0.32 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.28 dividend on an annualized basis and a yield of 0.86%. BIO-TECHNE’s dividend payout ratio is currently 41.97%.
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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