Bio-Techne Corp (TECH) Position Cut by Janus Henderson Group PLC
Janus Henderson Group PLC reduced its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,123,700 shares of the biotechnology company’s stock after selling 64,408 shares during the period. Janus Henderson Group PLC owned approximately 3.00% of Bio-Techne worth $135,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Eagle Asset Management Inc. increased its position in Bio-Techne by 5.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 49,945 shares of the biotechnology company’s stock valued at $5,868,000 after buying an additional 2,371 shares in the last quarter. Vanguard Group Inc. increased its position in Bio-Techne by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after buying an additional 36,768 shares in the last quarter. Castleark Management LLC acquired a new position in Bio-Techne during the 2nd quarter valued at about $3,504,000. American Century Companies Inc. increased its position in Bio-Techne by 174.8% during the 2nd quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock valued at $85,962,000 after buying an additional 465,398 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Bio-Techne by 55.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 48,208 shares of the biotechnology company’s stock valued at $5,664,000 after buying an additional 17,158 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.
Bio-Techne Corp (TECH) opened at $127.32 on Wednesday. The company has a quick ratio of 2.25, a current ratio of 2.87 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $4,770.00, a PE ratio of 37.11, a PEG ratio of 3.21 and a beta of 0.75. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $136.39.
Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $144.61 million for the quarter, compared to analyst estimates of $142.37 million. Bio-Techne had a return on equity of 14.11% and a net margin of 12.54%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share. sell-side analysts anticipate that Bio-Techne Corp will post 3.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Thursday, November 9th. Bio-Techne’s dividend payout ratio is presently 63.68%.
Several research analysts recently issued reports on TECH shares. Zacks Investment Research raised Bio-Techne from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a research report on Wednesday, October 11th. Deutsche Bank set a $132.00 target price on Bio-Techne and gave the company a “buy” rating in a research report on Wednesday, August 30th. BidaskClub raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Citigroup reaffirmed a “buy” rating and set a $115.00 target price (down from $125.00) on shares of Bio-Techne in a research report on Tuesday, October 24th. Finally, Leerink Swann reissued a “buy” rating on shares of Bio-Techne in a report on Tuesday, December 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Bio-Techne presently has a consensus rating of “Buy” and an average price target of $134.33.
In other news, Director Robert V. Baumgartner sold 5,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total value of $650,900.00. Following the transaction, the director now directly owns 12,712 shares of the company’s stock, valued at $1,654,848.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is currently owned by corporate insiders.
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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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