Private Advisor Group LLC acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECH – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,561 shares of the biotechnology company’s stock, valued at approximately $487,000.
Several other hedge funds have also added to or reduced their stakes in the business. Zions Bancorporation N.A. raised its stake in Bio-Techne by 0.6% during the 1st quarter. Zions Bancorporation N.A. now owns 22,222 shares of the biotechnology company’s stock worth $1,649,000 after buying an additional 129 shares during the period. Credit Suisse AG raised its stake in Bio-Techne by 3.5% during the 1st quarter. Credit Suisse AG now owns 271,674 shares of the biotechnology company’s stock worth $20,155,000 after buying an additional 9,160 shares during the period. LPL Financial LLC raised its stake in Bio-Techne by 15.8% during the 1st quarter. LPL Financial LLC now owns 36,719 shares of the biotechnology company’s stock worth $2,724,000 after buying an additional 5,018 shares during the period. iSAM Funds UK Ltd acquired a new stake in Bio-Techne during the 1st quarter worth $225,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Bio-Techne in the 1st quarter valued at about $415,000. Institutional investors and hedge funds own 94.64% of the company’s stock.
Insiders Place Their Bets
In other Bio-Techne news, CEO Charles R. Kummeth sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $88.36, for a total transaction of $7,068,800.00. Following the transaction, the chief executive officer now owns 1,258,766 shares of the company’s stock, valued at $111,224,563.76. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Charles R. Kummeth sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $88.36, for a total value of $7,068,800.00. Following the transaction, the chief executive officer now owns 1,258,766 shares of the company’s stock, valued at $111,224,563.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roeland Nusse sold 8,939 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $80.32, for a total value of $717,980.48. Following the completion of the transaction, the director now directly owns 51,872 shares in the company, valued at approximately $4,166,359.04. The disclosure for this sale can be found here. Company insiders own 4.45% of the company’s stock.
Bio-Techne Price Performance
NASDAQ:TECH opened at $78.76 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.50 and a current ratio of 4.84. The stock’s 50-day simple moving average is $81.87 and its 200 day simple moving average is $79.47. The company has a market cap of $12.46 billion, a P/E ratio of 44.75, a P/E/G ratio of 4.13 and a beta of 1.22. Bio-Techne Co. has a 52-week low of $68.00 and a 52-week high of $90.63.
Bio-Techne (NASDAQ:TECH – Get Free Report) last released its earnings results on Tuesday, August 8th. The biotechnology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. The business had revenue of $301.32 million for the quarter, compared to the consensus estimate of $304.71 million. Bio-Techne had a return on equity of 15.47% and a net margin of 25.10%. As a group, sell-side analysts forecast that Bio-Techne Co. will post 1.81 EPS for the current fiscal year.
Bio-Techne Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Thursday, August 17th. Bio-Techne’s dividend payout ratio (DPR) is presently 18.18%.
Wall Street Analysts Forecast Growth
TECH has been the topic of a number of research reports. William Blair initiated coverage on Bio-Techne in a report on Monday, August 28th. They issued an “outperform” rating on the stock. Stephens restated an “overweight” rating and issued a $100.00 price target on shares of Bio-Techne in a report on Wednesday, August 9th. Robert W. Baird cut their price target on Bio-Techne from $100.00 to $90.00 in a report on Wednesday, August 9th. Benchmark restated a “buy” rating and issued a $120.00 price target on shares of Bio-Techne in a report on Friday, August 18th. Finally, StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.78.
Read Our Latest Research Report on TECH
About Bio-Techne
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.
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