Denver Investment Advisors LLC increased its position in Bio-Techne Corp (NASDAQ:TECH) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 171,243 shares of the biotechnology company’s stock after buying an additional 585 shares during the period. Bio-Techne Corp comprises 0.9% of Denver Investment Advisors LLC’s investment portfolio, making the stock its 28th largest position. Denver Investment Advisors LLC’s holdings in Bio-Techne Corp were worth $20,121,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TECH. Russell Investments Group Ltd. increased its position in Bio-Techne Corp by 11.5% in the first quarter. Russell Investments Group Ltd. now owns 127,512 shares of the biotechnology company’s stock worth $12,962,000 after buying an additional 13,117 shares in the last quarter. Mondrian Investment Partners LTD increased its position in Bio-Techne Corp by 114.7% in the first quarter. Mondrian Investment Partners LTD now owns 40,545 shares of the biotechnology company’s stock worth $4,121,000 after buying an additional 21,661 shares in the last quarter. Granite Investment Partners LLC increased its position in Bio-Techne Corp by 1.5% in the first quarter. Granite Investment Partners LLC now owns 20,962 shares of the biotechnology company’s stock worth $2,131,000 after buying an additional 311 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in Bio-Techne Corp by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 1,848 shares of the biotechnology company’s stock worth $188,000 after buying an additional 168 shares in the last quarter. Finally, American Capital Management Inc. increased its position in Bio-Techne Corp by 10.6% in the first quarter. American Capital Management Inc. now owns 9,365 shares of the biotechnology company’s stock worth $952,000 after buying an additional 900 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.

Bio-Techne Corp (NASDAQ TECH) opened at 117.47 on Tuesday. The stock has a market cap of $4.39 billion, a P/E ratio of 57.02 and a beta of 0.79. The stock has a 50 day moving average of $116.63 and a 200-day moving average of $109.18. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $121.94.

Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $150.25 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue was up 16.2% on a year-over-year basis. Analysts forecast that Bio-Techne Corp will post $3.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, August 16th. Bio-Techne Corp’s payout ratio is presently 65.98%.

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A number of research firms have weighed in on TECH. BidaskClub raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Wells Fargo & Company began coverage on shares of Bio-Techne Corp in a research note on Thursday, July 13th. They set a “market perform” rating on the stock. Zacks Investment Research raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research note on Thursday, July 6th. Deutsche Bank AG increased their price target on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $125.00 price target (up previously from $115.00) on shares of Bio-Techne Corp in a research note on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Bio-Techne Corp has an average rating of “Buy” and a consensus target price of $125.20.

In related news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,389,118.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 10,300 shares of company stock worth $1,147,078 over the last ninety days. 2.70% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Bio-Techne Corp (NASDAQ:TECH)

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