Redmond Asset Management LLC decreased its stake in Bio-Techne Corp (NASDAQ:TECH) by 0.5% during the fourth quarter, Holdings Channel reports. The firm owned 15,397 shares of the company’s stock after selling 70 shares during the period. Redmond Asset Management LLC’s holdings in Bio-Techne Corp were worth $1,583,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its position in shares of Bio-Techne Corp by 7.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,092 shares of the company’s stock valued at $112,000 after buying an additional 78 shares during the period. LS Investment Advisors LLC raised its position 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 valued at $114,000 after buying an additional 133 shares during the period. World Asset Management Inc raised its position 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 valued at $265,000 after buying an additional 604 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Bio-Techne Corp by 55.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,658 shares of the company’s stock valued at $479,000 after buying an additional 1,658 shares during the period. Finally, Wasatch Advisors Inc. raised its position 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 valued at $736,000 after buying an additional 547 shares during the period. Institutional investors own 94.74% of the company’s stock.
Shares of Bio-Techne Corp (NASDAQ:TECH) traded up 0.64% during mid-day trading on Monday, reaching $103.91. 264,609 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $101.46 and its 200-day moving average is $105.50. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 49.53 and a beta of 0.73. Bio-Techne Corp has a 52-week low of $83.10 and a 52-week high of $117.42.
Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings results on Tuesday, February 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $131.80 million for the quarter, compared to the consensus estimate of $134.74 million. Bio-Techne Corp had a return on equity of 13.95% and a net margin of 14.87%. Bio-Techne Corp’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, equities analysts expect that Bio-Techne Corp will post $3.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Friday, February 17th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, February 15th. Bio-Techne Corp’s payout ratio is 60.95%.
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Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Bio-Techne Corp from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. Citigroup Inc. assumed coverage on shares of Bio-Techne Corp in a research note on Thursday. They set a “buy” rating and a $115.00 price target on the stock. Leerink Swann assumed coverage on shares of Bio-Techne Corp in a report on Thursday, November 10th. They set an “outperform” rating and a $122.00 price objective for the company. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $115.00 price objective on shares of Bio-Techne Corp in a report on Wednesday, January 18th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $119.00.
In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $106.73, for a total transaction of $106,730.00. Following the transaction, the director now directly owns 1,973 shares in the company, valued at approximately $210,578.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,200 shares of company stock worth $127,662 over the last 90 days. Company 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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