Rice Hall James & Associates LLC trimmed its position in Bio-Techne Corp (NASDAQ:TECH) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,544 shares of the biotechnology company’s stock after selling 2,000 shares during the period. Rice Hall James & Associates LLC owned about 0.06% of Bio-Techne Corp worth $2,604,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in TECH. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bio-Techne Corp by 12.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock valued at $171,000 after purchasing an additional 163 shares in the last quarter. Underhill Investment Management LLC purchased a new position in Bio-Techne Corp in the 2nd quarter valued at about $223,000. Flinton Capital Management LLC lifted its holdings in Bio-Techne Corp by 84.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 896 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in Bio-Techne Corp by 22.0% in the 2nd quarter. LS Investment Advisors LLC now owns 2,089 shares of the biotechnology company’s stock valued at $245,000 after purchasing an additional 377 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in Bio-Techne Corp by 6.0% in the 2nd quarter. Huntington National Bank now owns 2,138 shares of the biotechnology company’s stock valued at $251,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 98.70% of the company’s stock.
A number of research analysts have issued reports on TECH shares. Zacks Investment Research upgraded shares of Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Thursday, July 6th. Wells Fargo & Company started coverage on shares of Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating on the stock. BidaskClub lowered shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Deutsche Bank AG upped their target price on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Citigroup Inc. restated a “buy” rating and issued a $115.00 target price (down from $125.00) on shares of Bio-Techne Corp in a report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $129.50.
In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,059 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total transaction of $128,912.07. Following the completion of the sale, the director now directly owns 914 shares in the company, valued at approximately $111,261.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,359 shares of company stock valued at $164,632 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.
Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.08. Bio-Techne Corp had a return on equity of 14.11% and a net margin of 12.54%. The firm had revenue of $144.61 million during the quarter, compared to analyst estimates of $142.37 million. During the same period last year, the company posted $0.84 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.28 dividend on an annualized basis and a yield of 1.00%. Bio-Techne Corp’s payout ratio is presently 66.32%.
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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