Bio-Techne Corp (TECH) Shares Bought by Fred Alger Management Inc.
Fred Alger Management Inc. boosted its position in Bio-Techne Corp (NASDAQ:TECH) by 10.2% during the fourth quarter, Holdings Channel reports. The firm owned 459,229 shares of the company’s stock after buying an additional 42,483 shares during the period. Fred Alger Management Inc. owned about 1.23% of Bio-Techne Corp worth $47,223,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP increased its stake in Bio-Techne Corp by 222.7% in the fourth quarter. Trexquant Investment LP now owns 7,100 shares of the company’s stock worth $730,000 after buying an additional 4,900 shares during the period. Royce & Associates LP increased its stake in Bio-Techne Corp by 4.6% in the fourth quarter. Royce & Associates LP now owns 775,259 shares of the company’s stock worth $79,720,000 after buying an additional 33,900 shares during the period. O Shaughnessy Asset Management LLC increased its stake in 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 worth $112,000 after buying an additional 78 shares during the period. Coldstream Capital Management Inc. increased its stake in Bio-Techne Corp by 55.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,658 shares of the company’s stock worth $479,000 after buying an additional 1,658 shares during the period. Finally, Brown Capital Management LLC increased its stake in Bio-Techne Corp by 1.4% in the fourth quarter. Brown Capital Management LLC now owns 2,291,016 shares of the company’s stock worth $235,585,000 after buying an additional 30,963 shares during the period. Hedge funds and other institutional investors own 94.74% of the company’s stock.
Bio-Techne Corp (NASDAQ:TECH) traded down 0.18% on Thursday, hitting $105.01. The company’s stock had a trading volume of 161,300 shares. Bio-Techne Corp has a 1-year low of $84.66 and a 1-year high of $117.42. The company has a market capitalization of $3.92 billion, a P/E ratio of 50.05 and a beta of 0.73. The company has a 50 day moving average price of $101.63 and a 200-day moving average price of $105.44.
Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.04. The firm had revenue of $131.80 million for the quarter, compared to analyst estimates of $134.74 million. Bio-Techne Corp had a return on equity of 13.95% and a net margin of 14.87%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. On average, equities analysts forecast that Bio-Techne Corp will post $3.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Stockholders of record on Friday, February 17th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, February 15th. Bio-Techne Corp’s payout ratio is 60.95%.
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A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Friday, November 11th. Leerink Swann started coverage on Bio-Techne Corp in a research report on Thursday, November 10th. They issued an “outperform” rating and a $122.00 target price for the company. Citigroup Inc. started coverage on Bio-Techne Corp in a report on Thursday, February 9th. They issued a “buy” rating and a $115.00 price target on the stock. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $115.00 price target on shares of Bio-Techne Corp in a report on Wednesday, January 18th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $119.00.
In other news, Director Karen A. Holbrook sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $106.73, for a total transaction of $106,730.00. Following the completion of the sale, the director now owns 1,973 shares of the company’s stock, valued at $210,578.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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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