Bio-Techne Corp (TECH) Shares Bought by State of Tennessee Treasury Department
State of Tennessee Treasury Department increased its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 133.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 70,000 shares of the biotechnology company’s stock after purchasing an additional 40,000 shares during the period. State of Tennessee Treasury Department owned approximately 0.19% of Bio-Techne Corp worth $8,462,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisors Preferred LLC acquired a new position in shares of Bio-Techne Corp during the 3rd quarter worth about $318,000. Foundry Partners LLC acquired a new position in shares of Bio-Techne Corp during the 3rd quarter worth about $3,535,000. Public Employees Retirement Association of Colorado lifted its position in shares of Bio-Techne Corp by 16.8% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 152,739 shares of the biotechnology company’s stock worth $18,465,000 after purchasing an additional 22,000 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Bio-Techne Corp during the 3rd quarter worth about $1,018,000. Finally, Leavell Investment Management Inc. lifted its position in shares of Bio-Techne Corp by 2.9% during the 3rd quarter. Leavell Investment Management Inc. now owns 17,951 shares of the biotechnology company’s stock worth $2,170,000 after purchasing an additional 500 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.
In related news, Director Robert V. Baumgartner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total transaction of $650,900.00. Following the sale, the director now directly owns 12,712 shares in the company, valued at approximately $1,654,848.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Karen A. Holbrook sold 1,059 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total value of $128,912.07. Following the sale, the director now owns 914 shares in the company, valued at $111,261.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,259 shares of company stock worth $804,102. 3.40% of the stock is owned by corporate insiders.
Bio-Techne Corp (NASDAQ:TECH) opened at $124.24 on Friday. Bio-Techne Corp has a twelve month low of $95.68 and a twelve month high of $132.57. The company has a quick ratio of 2.25, a current ratio of 2.87 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $4,654.28, a P/E ratio of 35.80, a PEG ratio of 3.10 and a beta of 0.74.
Bio-Techne Corp (NASDAQ:TECH) last issued its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.08. Bio-Techne Corp had a return on equity of 14.11% and a net margin of 12.54%. The business had revenue of $144.61 million during the quarter, compared to analysts’ expectations of $142.37 million. During the same period in the prior year, the firm posted $0.84 EPS. Bio-Techne Corp’s quarterly revenue was up 10.7% compared to the same quarter last year. research analysts predict that Bio-Techne Corp will post 3.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.28 dividend on an annualized basis and a yield of 1.03%. Bio-Techne Corp’s dividend payout ratio (DPR) is presently 66.32%.
Several equities analysts have commented on TECH shares. Zacks Investment Research raised Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a report on Wednesday, October 11th. BidaskClub cut Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Deutsche Bank AG set a $145.00 price target on Bio-Techne Corp and gave the company a “buy” rating in a report on Tuesday, October 31st. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $115.00 price target (down previously from $125.00) on shares of Bio-Techne Corp in a report on Tuesday, October 24th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $134.33.
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.
Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Techne Corp (NASDAQ:TECH).
Receive News & Stock Ratings for Bio-Techne Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne Corp and related stocks with our FREE daily email newsletter.