Bio-Techne Corp (TECH) Position Lifted by Bamco Inc. NY
Bamco Inc. NY increased its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 1.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,520,228 shares of the biotechnology company’s stock after buying an additional 20,286 shares during the period. Bio-Techne comprises about 0.9% of Bamco Inc. NY’s holdings, making the stock its 25th biggest position. Bamco Inc. NY owned about 4.06% of Bio-Techne worth $183,780,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TECH. Janus Henderson Group PLC increased its holdings in Bio-Techne by 334.3% during the second quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock worth $139,603,000 after buying an additional 914,554 shares during the last quarter. American Century Companies Inc. increased its holdings in Bio-Techne by 174.8% during the second quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock worth $85,962,000 after buying an additional 465,398 shares during the last quarter. Koch Industries Inc. purchased a new stake in Bio-Techne during the second quarter worth about $286,000. Schroder Investment Management Group increased its holdings in Bio-Techne by 222.0% during the second quarter. Schroder Investment Management Group now owns 342,815 shares of the biotechnology company’s stock worth $40,220,000 after buying an additional 236,362 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its holdings in Bio-Techne by 1,358.0% during the second quarter. Commonwealth Bank of Australia now owns 179,878 shares of the biotechnology company’s stock worth $21,135,000 after buying an additional 167,541 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.
TECH has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Citigroup restated a “buy” rating and set a $115.00 price objective (down previously from $125.00) on shares of Bio-Techne in a report on Tuesday, October 24th. Deutsche Bank set a $145.00 price objective on shares of Bio-Techne and gave the stock a “buy” rating in a report on Tuesday, October 31st. Leerink Swann restated a “buy” rating on shares of Bio-Techne in a report on Tuesday, December 5th. Finally, BidaskClub upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $134.33.
Bio-Techne Corp (NASDAQ TECH) opened at $128.76 on Monday. The firm has a market cap of $4,823.63, a PE ratio of 37.11, a PEG ratio of 3.21 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25. Bio-Techne Corp has a 12 month low of $95.68 and a 12 month high of $136.39.
Bio-Techne (NASDAQ:TECH) last posted its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.08. The firm had revenue of $144.61 million during the quarter, compared to the consensus estimate of $142.37 million. Bio-Techne had a net margin of 12.54% and a return on equity of 14.11%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. equities research analysts expect that Bio-Techne Corp will post 3.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. Bio-Techne’s payout ratio is 66.32%.
In other news, Director Robert V. Baumgartner sold 5,000 shares of Bio-Techne stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total value of $650,900.00. Following the completion of the transaction, the director now owns 12,712 shares in the company, valued at $1,654,848.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by company insiders.
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Bio-Techne 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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