Royce & Associates LP cut its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 9.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 730,359 shares of the biotechnology company’s stock after selling 74,500 shares during the period. Bio-Techne Corp comprises about 0.6% of Royce & Associates LP’s holdings, making the stock its 29th largest position. Royce & Associates LP owned 1.96% of Bio-Techne Corp worth $85,817,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TECH. Cambridge Investment Research Advisors Inc. raised its position in Bio-Techne Corp by 0.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,664 shares of the biotechnology company’s stock worth $372,000 after buying an additional 20 shares during the last quarter. Capstone Asset Management Co. raised its position in Bio-Techne Corp by 0.4% in the second quarter. Capstone Asset Management Co. now owns 7,680 shares of the biotechnology company’s stock worth $902,000 after buying an additional 30 shares during the last quarter. State of Wisconsin Investment Board raised its position in Bio-Techne Corp by 0.7% in the second quarter. State of Wisconsin Investment Board now owns 7,392 shares of the biotechnology company’s stock worth $869,000 after buying an additional 50 shares during the last quarter. Flinton Capital Management LLC raised its position in 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 last quarter. Finally, American Capital Management Inc. raised its position in Bio-Techne Corp by 1.1% in the second quarter. American Capital Management Inc. now owns 9,470 shares of the biotechnology company’s stock worth $1,113,000 after buying an additional 105 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.
Bio-Techne Corp (NASDAQ:TECH) traded up 0.67% during mid-day trading on Friday, hitting $120.74. The company had a trading volume of 17,045 shares. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $121.94. The stock’s 50 day moving average price is $116.88 and its 200 day moving average price is $110.05. The firm has a market cap of $4.51 billion, a P/E ratio of 58.61 and a beta of 0.79.
Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.18%. The firm had revenue of $156.60 million during the quarter, compared to analysts’ expectations of $150.25 million. During the same quarter in the previous year, the company posted $0.92 EPS. Bio-Techne Corp’s revenue was up 16.2% on a year-over-year basis. On average, equities research analysts predict that Bio-Techne Corp will post $3.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, August 16th. Bio-Techne Corp’s payout ratio is 65.98%.
COPYRIGHT VIOLATION NOTICE: This news story was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this news story on another domain, it was stolen and republished in violation of US and international trademark & copyright law. The original version of this news story can be accessed at https://stocknewstimes.com/2017/08/25/royce-associates-lp-sells-74500-shares-of-bio-techne-corp-tech.html.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Bio-Techne Corp from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Deutsche Bank AG boosted their target price on Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. BidaskClub lowered Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Citigroup Inc. reissued a “buy” rating and issued a $125.00 target price (up previously from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. Finally, Wells Fargo & Company assumed coverage on Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $127.50.
In other news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were 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 of the company’s stock, 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 link. Insiders have sold a total of 5,300 shares of company stock valued at $591,328 in the last quarter. 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.
Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Techne Corp (NASDAQ:TECH).
Receive News & Ratings for Bio-Techne Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne Corp and related companies with MarketBeat.com's FREE daily email newsletter.
