DF Dent & Co. Inc. lessened its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 396,308 shares of the biotechnology company’s stock after selling 10,889 shares during the quarter. DF Dent & Co. Inc. owned about 1.06% of Bio-Techne Corp worth $46,566,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bio-Techne Corp by 12.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock valued at $171,000 after acquiring an additional 163 shares during the last quarter. Underhill Investment Management LLC purchased a new position in shares of Bio-Techne Corp during the 2nd quarter valued at about $223,000. Flinton Capital Management LLC raised its holdings in shares of Bio-Techne Corp by 84.8% during the 2nd quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 896 shares in the last quarter. First Financial Equity Corporation purchased a new position in shares of Bio-Techne Corp during the 1st quarter valued at about $203,000. Finally, LS Investment Advisors LLC raised its holdings in shares of Bio-Techne Corp by 22.0% during the 2nd quarter. LS Investment Advisors LLC now owns 2,089 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 98.40% of the company’s stock.
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TECH has been the topic of a number of research reports. Zacks Investment Research cut Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub raised Bio-Techne Corp from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Wells Fargo & Company initiated coverage on Bio-Techne Corp in a report on Thursday, July 13th. They set a “market perform” rating on the stock. Finally, Deutsche Bank AG set a $132.00 price objective on Bio-Techne Corp and gave the company a “buy” rating in a report on Wednesday, August 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Bio-Techne Corp currently has an average rating of “Buy” and an average target price of $127.50.
Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. The business had revenue of $156.60 million during the quarter, compared to analyst estimates of $150.25 million. Bio-Techne Corp had a return on equity of 14.19% and a net margin of 12.93%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. Equities research analysts anticipate that Bio-Techne Corp will post $3.99 EPS for the current fiscal year.
In other news, Director Karen A. Holbrook sold 1,059 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total value of $128,912.07. Following the completion of the sale, the director now directly owns 914 shares of the company’s stock, valued at approximately $111,261.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,259 shares of company stock valued at $152,436 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.
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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