Turner Investments LLC cut its position in Bio-Techne Corp (NASDAQ:TECH) by 49.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,000 shares of the company’s stock after selling 8,750 shares during the period. Turner Investments LLC’s holdings in Bio-Techne Corp were worth $925,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in TECH. Bessemer Group Inc. raised its stake in shares of Bio-Techne Corp by 1.4% in the fourth quarter. Bessemer Group Inc. now owns 7,970 shares of the company’s stock worth $819,000 after buying an additional 111 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of Bio-Techne Corp by 14.6% in the third quarter. LS Investment Advisors LLC now owns 1,042 shares of the company’s stock worth $114,000 after buying an additional 133 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Bio-Techne Corp by 8.9% in the third quarter. Wasatch Advisors Inc. now owns 6,724 shares of the company’s stock worth $736,000 after buying an additional 547 shares in the last quarter. World Asset Management Inc raised its stake in shares of Bio-Techne Corp by 33.3% in the third quarter. World Asset Management Inc now owns 2,417 shares of the company’s stock worth $265,000 after buying an additional 604 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of Bio-Techne Corp by 6.0% in the fourth quarter. Comerica Bank now owns 28,168 shares of the company’s stock worth $2,856,000 after buying an additional 1,583 shares in the last quarter. Hedge funds and other institutional investors own 94.78% of the company’s stock.
Shares of Bio-Techne Corp (NASDAQ:TECH) traded down 0.29% during trading on Friday, reaching $103.25. 338,999 shares of the company’s stock traded hands. The company has a 50 day moving average price of $101.44 and a 200-day moving average price of $105.62. Bio-Techne Corp has a one year low of $84.00 and a one year high of $117.42. The stock has a market cap of $3.85 billion, a P/E ratio of 49.21 and a beta of 0.73.
Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, February 7th. The company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.04. The company earned $131.80 million during the quarter, compared to analysts’ expectations of $134.74 million. Bio-Techne Corp had a net margin of 14.87% and a return on equity of 13.95%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. On average, equities research analysts expect that Bio-Techne Corp will post $3.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 3rd. Investors of record on Friday, February 17th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $1.28 annualized dividend and a yield of 1.24%. Bio-Techne Corp’s dividend payout ratio (DPR) is presently 60.95%.
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TECH has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday. Deutsche Bank AG restated a “buy” rating and set a $115.00 target price on shares of Bio-Techne Corp in a research report on Wednesday, January 18th. Leerink Swann initiated coverage on shares of Bio-Techne Corp in a research report on Thursday, November 10th. They set an “outperform” rating and a $122.00 target price for the company. Finally, Citigroup Inc. initiated coverage on shares of Bio-Techne Corp in a research report on Thursday. They set a “buy” rating and a $115.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $119.00.
In related news, Director Karen A. Holbrook sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $106.73, for a total value of $106,730.00. Following the transaction, the director now owns 1,973 shares in the company, valued at approximately $210,578.29. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders sold 1,200 shares of company stock worth $127,662. 2.70% of the stock is owned by corporate insiders.
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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