Quantamental Technologies LLC grew its stake in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 60.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,410 shares of the biotechnology company’s stock after buying an additional 910 shares during the quarter. Quantamental Technologies LLC’s holdings in BIO-TECHNE were worth $479,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of BIO-TECHNE by 2.3% during the fourth quarter. BlackRock Inc. now owns 3,855,948 shares of the biotechnology company’s stock worth $558,034,000 after acquiring an additional 85,590 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BIO-TECHNE by 2.4% during the third quarter. Vanguard Group Inc. now owns 3,361,425 shares of the biotechnology company’s stock worth $686,101,000 after acquiring an additional 77,626 shares in the last quarter. Vanguard Group Inc increased its position in shares of BIO-TECHNE by 2.4% during the third quarter. Vanguard Group Inc now owns 3,361,425 shares of the biotechnology company’s stock worth $686,101,000 after acquiring an additional 77,626 shares in the last quarter. Mairs & Power INC grew its position in BIO-TECHNE by 1.7% in the 4th quarter. Mairs & Power INC now owns 1,190,362 shares of the biotechnology company’s stock worth $172,269,000 after purchasing an additional 19,487 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in BIO-TECHNE by 18.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 803,633 shares of the biotechnology company’s stock worth $116,303,000 after purchasing an additional 125,665 shares in the last quarter. 94.00% of the stock is currently owned by hedge funds and other institutional investors.
In other BIO-TECHNE news, CFO James Hippel sold 35,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $203.08, for a total value of $7,107,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.80% of the stock is owned by company insiders.
Shares of BIO-TECHNE stock traded up $0.95 on Wednesday, hitting $202.04. 75,100 shares of the company traded hands, compared to its average volume of 189,096. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.36 and a current ratio of 4.32. The stock has a market cap of $7.62 billion, a P/E ratio of 49.64, a price-to-earnings-growth ratio of 4.22 and a beta of 1.24. BIO-TECHNE Corp has a 12-month low of $132.75 and a 12-month high of $207.84.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.27. BIO-TECHNE had a net margin of 17.15% and a return on equity of 13.53%. The firm had revenue of $184.86 million for the quarter, compared to analysts’ expectations of $183.92 million. During the same quarter last year, the company posted $1.21 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts predict that BIO-TECHNE Corp will post 3.9 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, May 9th. BIO-TECHNE’s dividend payout ratio (DPR) is presently 31.45%.
A number of brokerages have issued reports on TECH. Zacks Investment Research raised shares of BIO-TECHNE from a “hold” rating to a “strong-buy” rating and set a $238.00 price objective for the company in a research report on Wednesday, May 8th. BidaskClub raised shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. ValuEngine downgraded shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Argus reissued a “buy” rating on shares of BIO-TECHNE in a research report on Monday, March 4th. Finally, Craig Hallum reissued a “hold” rating and set a $179.00 target price (up from $154.00) on shares of BIO-TECHNE in a research report on Tuesday, February 5th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $193.67.
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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