First Trust Advisors LP raised its stake in Bio-Techne Corp (NASDAQ:TECH) by 18.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 361,521 shares of the biotechnology company’s stock after purchasing an additional 56,775 shares during the quarter. First Trust Advisors LP owned 0.97% of Bio-Techne Corp worth $43,704,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Bio-Techne Corp by 1.7% in the 2nd quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock valued at $418,485,000 after purchasing an additional 61,138 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Bio-Techne Corp by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after purchasing an additional 36,768 shares during the last quarter. Atlanta Capital Management Co. L L C grew its stake in shares of Bio-Techne Corp by 0.7% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock valued at $230,405,000 after purchasing an additional 14,291 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Bio-Techne Corp by 334.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after purchasing an additional 914,554 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Bio-Techne Corp by 0.5% in the 2nd quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock valued at $116,891,000 after purchasing an additional 5,078 shares during the last quarter. Institutional investors own 98.54% of the company’s stock.
In related news, Director Karen A. Holbrook sold 1,059 shares of the 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 transaction, the director now directly owns 914 shares of the company’s stock, valued at approximately $111,261.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,359 shares of company stock valued at $164,632 over the last three months. Corporate insiders own 3.40% of the company’s stock.
Several research analysts have weighed in on TECH shares. Deutsche Bank AG set a $132.00 target price on Bio-Techne Corp and gave the company a “buy” rating in a research note on Wednesday, August 30th. Zacks Investment Research raised Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a report on Thursday, July 6th. BidaskClub cut Bio-Techne Corp from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Wells Fargo & Company initiated coverage on Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating for the company. Finally, Citigroup Inc. reissued a “buy” rating and issued a $115.00 price target (down from $125.00) on shares of Bio-Techne Corp in a report on Tuesday, October 24th. Three 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 a consensus rating of “Buy” and an average target price of $126.25.
Shares of Bio-Techne Corp (TECH) opened at 125.95 on Friday. Bio-Techne Corp has a 12-month low of $95.68 and a 12-month high of $126.49. The firm has a market capitalization of $4.71 billion, a PE ratio of 62.04 and a beta of 0.76. The stock has a 50 day moving average price of $122.44 and a 200 day moving average price of $115.92.
Bio-Techne Corp (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Bio-Techne Corp had a return on equity of 14.19% and a net margin of 12.93%. The business had revenue of $156.60 million during the quarter, compared to analyst estimates of $150.25 million. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. Analysts predict that Bio-Techne Corp will post $3.99 EPS for the current fiscal year.
Bio-Techne Corp 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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