Public Employees Retirement Association of Colorado increased its stake in Bio-Techne Corp (NASDAQ:TECH) by 16.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,739 shares of the biotechnology company’s stock after acquiring an additional 22,000 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.41% of Bio-Techne Corp worth $18,465,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Bio-Techne Corp by 1.7% in the second quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock valued at $418,485,000 after acquiring an additional 61,138 shares in the last quarter. Vanguard Group Inc. increased its holdings in Bio-Techne Corp by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after buying an additional 36,768 shares during the last quarter. Atlanta Capital Management Co. L L C increased its holdings in Bio-Techne Corp by 0.7% in the second 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 buying an additional 14,291 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Bio-Techne Corp by 334.3% in the second quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after buying an additional 914,554 shares during the last quarter. Finally, State Street Corp increased its holdings in Bio-Techne Corp by 0.5% in the second quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock valued at $116,891,000 after buying an additional 5,078 shares during the last quarter. Institutional investors and hedge funds own 98.70% of the company’s stock.
Bio-Techne Corp (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. The firm had revenue of $144.61 million for the quarter, compared to analyst estimates of $142.37 million. Bio-Techne Corp had a net margin of 12.54% and a return on equity of 14.11%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, November 9th. Bio-Techne Corp’s payout ratio is currently 66.32%.
TECH has been the topic of several recent analyst reports. Zacks Investment Research lowered Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Citigroup Inc. reissued a “buy” rating and issued a $115.00 target price (down previously from $125.00) on shares of Bio-Techne Corp in a report on Tuesday, October 24th. Deutsche Bank AG set a $145.00 target price on Bio-Techne Corp and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company initiated coverage on Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating on the stock. Finally, BidaskClub lowered Bio-Techne Corp from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Bio-Techne Corp has an average rating of “Buy” and a consensus target price of $129.50.
In other news, Director Karen A. Holbrook sold 1,059 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were 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 owns 914 shares of the company’s stock, valued at approximately $111,261.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,359 shares of company stock valued at $164,632 in the last three months. Insiders own 3.40% of the company’s stock.
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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