Hardy Reed LLC Makes New Investment in BIO-TECHNE Corp (NASDAQ:TECH)

Hardy Reed LLC acquired a new position in shares of BIO-TECHNE Corp (NASDAQ:TECH) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,018 shares of the biotechnology company’s stock, valued at approximately $223,000.

A number of other institutional investors also recently bought and sold shares of TECH. Massachusetts Financial Services Co. MA grew its holdings in shares of BIO-TECHNE by 3.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 951,301 shares of the biotechnology company’s stock valued at $186,141,000 after purchasing an additional 31,700 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of BIO-TECHNE by 1.2% during the third quarter. California State Teachers Retirement System now owns 60,371 shares of the biotechnology company’s stock valued at $11,813,000 after purchasing an additional 720 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of BIO-TECHNE by 3.8% during the third quarter. Virginia Retirement Systems ET AL now owns 5,500 shares of the biotechnology company’s stock valued at $1,076,000 after purchasing an additional 200 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of BIO-TECHNE by 11.6% during the third quarter. Stifel Financial Corp now owns 9,315 shares of the biotechnology company’s stock valued at $1,825,000 after purchasing an additional 969 shares during the last quarter. Finally, Retirement Systems of Alabama grew its holdings in shares of BIO-TECHNE by 24.4% during the third quarter. Retirement Systems of Alabama now owns 91,279 shares of the biotechnology company’s stock valued at $17,861,000 after purchasing an additional 17,917 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

In other BIO-TECHNE news, CEO Charles R. Kummeth sold 11,772 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $222.12, for a total value of $2,614,796.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brenda S. Furlow sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $215.60, for a total value of $1,724,800.00. Following the completion of the sale, the senior vice president now owns 2,711 shares of the company’s stock, valued at $584,491.60. The disclosure for this sale can be found here. Insiders sold a total of 66,313 shares of company stock valued at $14,482,152 over the last three months. Corporate insiders own 4.20% of the company’s stock.

Several equities analysts have recently commented on the company. Stephens started coverage on BIO-TECHNE in a report on Wednesday, January 8th. They set an “overweight” rating for the company. Wells Fargo & Co started coverage on BIO-TECHNE in a report on Tuesday, January 7th. They issued an “equal weight” rating and a $230.00 price objective for the company. TheStreet raised BIO-TECHNE from a “c+” rating to a “b-” rating in a report on Wednesday, November 27th. ValuEngine lowered BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus started coverage on BIO-TECHNE in a report on Thursday, November 14th. They issued a “buy” rating and a $235.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. BIO-TECHNE presently has an average rating of “Hold” and a consensus price target of $233.14.

TECH stock traded down $3.42 on Friday, reaching $215.34. The company’s stock had a trading volume of 26,708 shares, compared to its average volume of 107,466. BIO-TECHNE Corp has a 52 week low of $161.11 and a 52 week high of $223.29. The company has a market capitalization of $8.35 billion, a P/E ratio of 90.10, a price-to-earnings-growth ratio of 4.69 and a beta of 1.22. The firm has a fifty day moving average of $218.26 and a two-hundred day moving average of $206.84. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.44 and a quick ratio of 3.41.

BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. BIO-TECHNE had a return on equity of 13.36% and a net margin of 12.68%. The business had revenue of $183.24 million during the quarter, compared to analyst estimates of $179.38 million. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts expect that BIO-TECHNE Corp will post 4.25 EPS for the current fiscal year.

BIO-TECHNE Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.

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Institutional Ownership by Quarter for BIO-TECHNE (NASDAQ:TECH)

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