Bio-Techne Corp (NASDAQ:TECH) Shares Sold by Alliancebernstein L.P.
Alliancebernstein L.P. cut its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,394 shares of the biotechnology company’s stock after selling 150 shares during the period. Alliancebernstein L.P. owned about 0.07% of Bio-Techne Corp worth $2,581,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. raised its position in Bio-Techne Corp by 3.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 71,500 shares of the biotechnology company’s stock worth $7,268,000 after buying an additional 2,500 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in Bio-Techne Corp by 49.3% in the first quarter. Conestoga Capital Advisors LLC now owns 256,213 shares of the biotechnology company’s stock worth $26,044,000 after buying an additional 84,569 shares during the period. Capstone Asset Management Co. increased its position in Bio-Techne Corp by 5.4% in the first quarter. Capstone Asset Management Co. now owns 7,650 shares of the biotechnology company’s stock worth $778,000 after buying an additional 390 shares during the period. Opus Point Partners Management LLC purchased a new position in Bio-Techne Corp during the fourth quarter worth $254,000. Finally, Elkfork Partners LLC increased its position in Bio-Techne Corp by 10.0% in the first quarter. Elkfork Partners LLC now owns 2,244 shares of the biotechnology company’s stock worth $228,000 after buying an additional 204 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.
Shares of Bio-Techne Corp (NASDAQ TECH) traded down 2.27% during mid-day trading on Tuesday, reaching $113.59. The company’s stock had a trading volume of 395,818 shares. Bio-Techne Corp has a one year low of $95.68 and a one year high of $121.94. The firm has a market cap of $4.24 billion, a PE ratio of 61.10 and a beta of 0.79. The firm’s 50 day moving average is $116.32 and its 200 day moving average is $108.28.
Bio-Techne Corp (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.86% and a return on equity of 13.80%. The business had revenue of $156.60 million for the quarter, compared to analyst estimates of $150.25 million. During the same period in the previous year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities analysts anticipate that Bio-Techne Corp will post $3.62 earnings per share for the current fiscal year.
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A number of research firms have weighed in on TECH. Zacks Investment Research downgraded Bio-Techne Corp from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. BidaskClub downgraded Bio-Techne Corp from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup Inc. reiterated a “buy” rating and set a $125.00 target price (up previously from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. TheStreet upgraded Bio-Techne Corp from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Finally, Wells Fargo & Company assumed coverage on Bio-Techne Corp in a research note on Thursday, July 13th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $123.20.
In other Bio-Techne Corp news, Director Charles A. Dinarello sold 5,000 shares of Bio-Techne Corp stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $111.37, for a total value of $556,850.00. Following the transaction, the director now directly owns 12,473 shares of the company’s stock, valued at $1,389,118.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 10,300 shares of company stock worth $1,146,707 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.
Bio-Techne Corp Company 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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