Teachers Retirement System of The State of Kentucky decreased its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,860 shares of the biotechnology company’s stock after selling 840 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Bio-Techne Corp were worth $799,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of TECH. BlackRock Inc. boosted its stake in Bio-Techne Corp by 14,548.6% in the first quarter. BlackRock Inc. now owns 3,500,436 shares of the biotechnology company’s stock valued at $355,820,000 after buying an additional 3,476,540 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Bio-Techne Corp by 18.4% in the first quarter. Neuberger Berman Group LLC now owns 1,900,495 shares of the biotechnology company’s stock valued at $193,185,000 after buying an additional 295,802 shares during the last quarter. American Century Companies Inc. purchased a new stake in Bio-Techne Corp during the first quarter valued at about $27,058,000. Vanguard Group Inc. boosted its stake in Bio-Techne Corp by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,005,690 shares of the biotechnology company’s stock valued at $305,528,000 after buying an additional 134,138 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in Bio-Techne Corp by 84.8% in the first quarter. Citadel Advisors LLC now owns 276,762 shares of the biotechnology company’s stock valued at $28,133,000 after buying an additional 126,971 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.
Shares of Bio-Techne Corp (TECH) opened at 114.44 on Thursday. The firm has a 50-day moving average price of $115.98 and a 200-day moving average price of $108.12. Bio-Techne Corp has a 12 month low of $95.68 and a 12 month high of $119.98. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 61.56 and a beta of 0.79.
Bio-Techne Corp (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.86% and a return on equity of 13.80%. The firm had revenue of $156.60 million for the quarter, compared to analyst estimates of $150.25 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s revenue was up 16.2% on a year-over-year basis. Equities analysts expect that Bio-Techne Corp will post $3.62 EPS for the current fiscal year.
TECH has been the topic of a number of research reports. Deutsche Bank AG reissued a “buy” rating and issued a $122.00 target price (up from $115.00) on shares of Bio-Techne Corp in a research note on Wednesday, May 3rd. BidaskClub raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research note on Thursday, July 6th. TheStreet raised shares of Bio-Techne Corp from a “c+” rating to a “b” rating in a research note on Tuesday, May 2nd. Finally, Wells Fargo & Company initiated coverage on shares of Bio-Techne Corp in a research report on Thursday, July 13th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Bio-Techne Corp currently has a consensus rating of “Buy” and a consensus target price of $125.20.
In other Bio-Techne Corp news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $111.37, for a total transaction of $556,850.00. Following the transaction, the director now directly owns 12,473 shares in the company, valued at approximately $1,389,118.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 10,200 shares of company stock worth $1,135,648. Corporate 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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