Zurcher Kantonalbank Zurich Cantonalbank continued to hold its position in BIO-TECHNE Corp (NASDAQ:TECH) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,293 shares of the biotechnology company’s stock at the end of the first quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BIO-TECHNE Corp were worth $131,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in TECH. Norges Bank purchased a new position in BIO-TECHNE Corp during the fourth quarter valued at about $49,542,000. American Century Companies Inc. purchased a new position in BIO-TECHNE Corp during the first quarter valued at about $27,058,000. Russell Investments Group Ltd. purchased a new position in BIO-TECHNE Corp during the fourth quarter valued at about $11,836,000. Conestoga Capital Advisors LLC raised 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 valued at $26,044,000 after buying an additional 84,569 shares in the last quarter. Finally, Fred Alger Management Inc. raised its position in BIO-TECHNE Corp by 10.2% in the fourth quarter. Fred Alger Management Inc. now owns 459,229 shares of the biotechnology company’s stock valued at $47,223,000 after buying an additional 42,483 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of BIO-TECHNE Corp (TECH) opened at 113.66 on Friday. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 61.14 and a beta of 0.73. The stock’s 50 day moving average is $109.39 and its 200-day moving average is $105.06. BIO-TECHNE Corp has a one year low of $95.68 and a one year high of $117.42.
BIO-TECHNE Corp (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.04. BIO-TECHNE Corp had a net margin of 14.87% and a return on equity of 13.95%. The firm had revenue of $144.04 million for the quarter, compared to analyst estimates of $142.83 million. During the same period last year, the business earned $1.01 EPS. BIO-TECHNE Corp’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts predict that BIO-TECHNE Corp will post $3.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 19th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $1.28 annualized dividend and a yield of 1.13%. BIO-TECHNE Corp’s dividend payout ratio is currently 60.95%.
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TECH has been the topic of a number of research analyst reports. Citigroup Inc initiated coverage on shares of BIO-TECHNE Corp in a report on Thursday, February 9th. They set a “buy” rating and a $115.00 price objective on the stock. Zacks Investment Research raised shares of BIO-TECHNE Corp from a “sell” rating to a “hold” rating in a report on Saturday, February 11th. Janney Montgomery Scott lowered shares of BIO-TECHNE Corp from a “buy” rating to a “neutral” rating in a report on Monday, March 27th. Deutsche Bank AG reissued a “buy” rating and set a $122.00 price objective (up from $115.00) on shares of BIO-TECHNE Corp in a report on Wednesday, May 3rd. Finally, TheStreet raised shares of BIO-TECHNE Corp from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. BIO-TECHNE Corp has a consensus rating of “Buy” and an average price target of $122.60.
In related 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 transaction of $556,850.00. Following the sale, the director now directly owns 12,473 shares in the company, valued at approximately $1,389,118.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 10,200 shares of company stock worth $1,133,774 over the last quarter. 2.70% of the stock is owned by company insiders.
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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