Bio-Techne Corp (TECH) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN lifted its stake in Bio-Techne Corp (NASDAQ:TECH) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,657 shares of the biotechnology company’s stock after purchasing an additional 3,475 shares during the period. Wells Fargo & Company MN owned 0.13% of Bio-Techne Corp worth $5,834,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of TECH. UBS Asset Management Americas Inc. lifted its position in shares of Bio-Techne Corp by 11.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 24,224 shares of the biotechnology company’s stock worth $2,462,000 after purchasing an additional 2,453 shares during the period. Prudential Financial Inc. lifted its position in shares of Bio-Techne Corp by 5.8% in the 1st quarter. Prudential Financial Inc. now owns 23,225 shares of the biotechnology company’s stock worth $2,361,000 after purchasing an additional 1,278 shares during the period. Stifel Financial Corp lifted its position in shares of Bio-Techne Corp by 11.4% in the 1st quarter. Stifel Financial Corp now owns 8,928 shares of the biotechnology company’s stock worth $908,000 after purchasing an additional 913 shares during the period. Principal Financial Group Inc. lifted its position in shares of Bio-Techne Corp by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 153,397 shares of the biotechnology company’s stock worth $15,592,000 after purchasing an additional 3,708 shares during the period. Finally, Advantus Capital Management Inc lifted its position in shares of Bio-Techne Corp by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 4,777 shares of the biotechnology company’s stock worth $486,000 after purchasing an additional 140 shares during the period. 98.40% of the stock is owned by hedge funds and other institutional investors.
In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,059 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the transaction, the director now directly owns 914 shares in the company, valued at approximately $111,261.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 1,259 shares of company stock worth $152,436. 3.40% of the stock is owned by company insiders.
Several research firms have recently commented on TECH. Zacks Investment Research cut shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub raised shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Wells Fargo & Company began coverage on shares of Bio-Techne Corp in a research report on Thursday, July 13th. They issued a “market perform” rating for the company. Finally, Deutsche Bank AG raised their target price on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $127.50.
Bio-Techne Corp (NASDAQ:TECH) opened at 122.30 on Wednesday. The stock has a market capitalization of $4.57 billion, a PE ratio of 60.25 and a beta of 0.76. Bio-Techne Corp has a 12 month low of $95.68 and a 12 month high of $124.00. The company’s 50-day moving average is $121.47 and its 200-day moving average is $113.95.
Bio-Techne Corp (NASDAQ:TECH) last issued its 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 12.93% and a return on equity of 14.19%. The company had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. During the same period in the prior year, the business earned $0.92 EPS. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. Equities research analysts forecast that Bio-Techne Corp will post $3.99 EPS for the current year.
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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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