Candriam Luxembourg S.C.A. reduced its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,500 shares of the biotechnology company’s stock after selling 3,000 shares during the period. Candriam Luxembourg S.C.A. owned approximately 0.18% of Bio-Techne Corp worth $8,049,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in TECH. Israel Discount Bank of New York bought a new stake in Bio-Techne Corp during the first quarter worth approximately $105,000. Flinton Capital Management LLC increased its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after buying an additional 96 shares during the period. Meadow Creek Investment Management LLC increased its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after buying an additional 132 shares during the period. LS Investment Advisors LLC increased its position in shares of Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after buying an additional 570 shares during the period. Finally, Glen Harbor Capital Management LLC increased its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 1,848 shares of the biotechnology company’s stock worth $188,000 after buying an additional 168 shares during the period. 96.94% of the stock is owned by institutional investors and hedge funds.
Bio-Techne Corp (TECH) opened at 115.34 on Friday. The stock’s 50 day moving average price is $115.98 and its 200 day moving average price is $108.12. The company has a market cap of $4.31 billion, a P/E ratio of 62.04 and a beta of 0.79. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $119.98.
A number of brokerages have issued reports on TECH. BidaskClub downgraded Bio-Techne Corp from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company began coverage on Bio-Techne Corp in a research note on Thursday, July 13th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research note on Thursday, July 6th. TheStreet upgraded Bio-Techne Corp from a “c+” rating to a “b” rating in a research note on Tuesday, May 2nd. Finally, Deutsche Bank AG restated a “buy” rating and issued a $122.00 price objective (up previously from $115.00) on shares of Bio-Techne Corp in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $123.20.
In other news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $111.37, for a total value of $556,850.00. Following the completion of the transaction, the director now owns 12,473 shares in the company, valued at $1,389,118.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 10,300 shares of company stock valued at $1,146,707 in the last 90 days. Company insiders own 2.70% of the company’s stock.
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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